Silverstone gets busy in Coomera

WORK will soon start on Silverstone Developments’ retail subdivision in Upper Coomera.

The company purchased the 2.64ha site at the end of last year for $8 million in a deal struck by NAI Harcourts’ Gerry Thibault.

The site has a mixed use zoning making it suitable for a variety of uses including retail, commercial and medical. It has two street frontages, including 300m frontage to Days Rd, Coomera, which is the arterial feeder road from the M1 into Coomera.

Prior to settlement, Silverstone Developments lodged a seven-lot subdivision with areas ranging from 2300sq m to 5000sq m.

Silverstone’s managing director Troy Daffy said there had already been strong buyer inquiry off the back of the settlement and lodgement of the town planning application.

“We are already seeing strong levels of inquiry, with owner-occupiers vying for some of the last land available at the entry to the M1 in Coomera,” he said.

Silverstone has been aggressive in its repositioning strategy with the acquisition of six new properties in the past 12 months. The company completed its final multi-residential project in 2016.