Sunland’s plans for Brisbane

DEVELOPER Sunland has paid $5.9 million for a Brisbane site – which it has earmarked for a $30 million development.

The 2.29ha amalgamated site, at 34-38 Kirkdale Rd, Chapel Hill, is 7km west of the CBD and has approval for 33 detached homes.

“This latest acquisition is in line with our strategy of identifying premium sites within established, high-growth areas, with access to considerable natural and built amenity,” managing director Sahba Abedian said.

“The homes will cater to the owner-occupier market to deliver the high level of amenity, finishes and quality craftsmanship sought by this segment.”

Construction is expected to start in the first half of next year and finish in the second half of 2019.

Sunland reported a fullyear net profit of $35.3 million for FY17.