VILLAWOOD SNAPS UP PRIZED BURLEIGH HEADS LAND FOR $10M

THE Cowell family, headed up by racing identity and developer Les Cowell, has offloaded 20ha of land in Burleigh Heads for $10m to Melbourne-based developer Villawood.

The developer plans to push ahead with the final stage of the Old Burleigh Town Estate, which was first developed in the 1990s.

The 20.74ha parcel is an amalgamation of three lots and approved for 62 lots and three ‘super lots’.

“Villawood Properties is excited to have the opportunity to deliver a secluded pocket of high-quality homes in one of the last developable land sites in the most sought-after suburb on the Gold Coast,” executive director Tony Johnson said.

“The project will offer an opportunity for buyers to secure a large home site to build their dream home in Burleigh Heads.”

Villawood bought the site in March last year and settled in December. It plans to launch the new estate later this year.

The estate adds to a portfolio that includes one at Helensvale called The Surrounds and Sequana at Logan Reserve.

Terry Anning, principal of The Anning Group Commercial Real Estate, negotiated the deal.

Mr Anning said he has been inundated with inquiries from buyers looking for residential, industrial and commercial land in the past six months. “The COVID-19 pandemic has caused a buying frenzy,” he said.

“Southeast Queensland is ground zero for an economic boom that looks like it will continue into 2021.

“We have contracted and sold more developments in the last six months than in the past two years.”

Mr Anning said he has a 4ha parcel overlooking Tallebudgera-Creek Road remaining for sale from the estate.

The Cowell family recently sold a 15.1ha parcel next to the M1 for $12.5m to the state government.