This article is from the Australian Property Journal archive
National development company No Limit Group will finally realise its vision of developing a $110 million residential community in Holmview, southeast Queensland.
The company has bought a four hectare site for $1.575 million and will now amalgamate the 31 hectares site in the Beenleigh area. Holmview is located in the heart of the Brisbane-Gold Coast growth corridor.
No Limit, headed by John Marshall, has now spent a total of $12.7 million acquiring adjoining sites around the Tallagandra and Teys Road areas.
The purchase of the 4.04ha site, also on Tallangandra Road, will add another $10 million to the end value of the residential project with the proposed additional development of a further 38 house and land projects.
The acquisition will increase the number of dwellings to 313 to be developed over the next two years.
Marshall said the latest purchase, which settles in early 2007, completed the final piece of the jigsaw in the amalgamation process and would enable No Limit to add additional parkland to the estate.
“We were very eager to purchase the remaining parcel because we felt it would enhance the aesthetic value of the development,” he said.
“We believe this will further complement the development and now that civil works are underway we are looking forward to delivering much needed housing in this high growth area,” he added.
Civil works are already under way on the development’s first stage.
By Kathryn O’Meara
