- 7 ha site has been purchased by Brisbane developers Keylin and Kinstone
- Second major purchase by Keylin and Kinstone over the past year after a $50m JV
- Located between Dreamworld and Westfield Coomera
- The Gold Coast site is located in one of the most active growth corridors in Australia
Brisbane-based developers have jointly purchased the 47.7 hectare site following a highly competitive process amongst several of Australia’s largest public and private development groups.
The acquisition marks a further expansion of their interests on the Gold Coast following their luxury $50 million Serenity 4212 waterfront project located at Helensvale.
The site is located at 64 Foxwell Road between Dreamworld and Westfield Coomera and is will be located close to the proposed Coomera Connector which is still being planned. The property contains two lots and has been approved for a range of uses such as commercial, retail and residential with approval of building heights as high as 15 storeys.
The acquisition process for the site began with an expressions of interest campaign that closed in December. CBRE’s Mark Witheriff and David Corke along with Colliers International’s Brendan Hogan, James Holland and Jason Lynch were all involved in the sales campaign.
“The population growth continues to drive the Gold Coast residential market as families look to migrate away from the high-density living of capital cities into lifestyle areas such as the Gold Coast.” said Mr Witheriff of CBRE.
“We are delighted to have successfully secured what we believe is one of the key sites on the northern Gold Coast which will allow us to play a significant role in the creation of the next stage of the Coomera Town Centre precinct,” said Louis Cheung, Keylin Managing Director.
“This is one of the area’s most strategically important sites that will shape the future of the urban heart of Coomera, considered to be the final piece of the Coomera Town Centre puzzle.”