Top river hous­ing site sells for $ 7m

Townsville Bulletin - - NEWS - TONY RAGGATT busi­ness editor tony. raggatt@ news. com. au

ANOTHER master planned com­mu­nity is set for Bohle Plains, with Maid­ment De­vel­op­ment Group ac­quir­ing one of the last re­main­ing ap­proved sites for around $ 7 mil­lion.

The off- mar­ket deal, which has just set­tled, in­volves about 140ha of bush­land fronting the Bohle River op­po­site Wil­lows Golf Club and adds weight to hopes a re­cov­ery is un­der way.

Prin­ci­pal Glen Maid­ment said the firm in­tended to de­liver another pre­mium residential mas­ter­planned com­mu­nity on what was an ex­cel­lent site close to ameni­ties and ser­vices.

“It has some ap­provals but we in­tend on work­ing through that process with the Townsville City Coun­cil to ob­tain fur­ther ap­provals and ul­ti­mately de­velop a pre­mium mas­ter­planned residential com­mu­nity,” Mr Maid­ment said.

“We will have three ac­tive land de­vel­op­ments in the Townsville mar­ket­place.

“We would like to be in a po­si­tion to pro­vide land from 300 sqm to 3000 sqm.”

Maid­ment is de­vel­op­ing Sanc­tum and the big block residential com­mu­nity of Eden Park in the North­ern Beaches and plans its next com­mu­nity to pro­vide con­ven­tional- sized blocks aimed at the pre­mium end of the mar­ket, cap­i­tal­is­ing on the Bohle River frontage.

Mr Maid­ment said Stage 4 of the Townsville Ring Road pro­ject, now un­der con­struc­tion, was pro­vid­ing good con­nec­tiv­ity for the CBD, Thuringowa Cen­tral and the North­ern Beaches, help­ing to make de­vel­op­ment more at­trac­tive.

He said there were al­ways buy­ers for pre­mium prod­uct.

“My per­sonal view of the Townsville mar­ket is quite pos­i­tive,” Mr Maid­ment said.

“We are find­ing our land pur­chasers are a lit­tle more op­por­tunis­tic than in the past.”

Col­liers man­ag­ing di­rec­tor Peter Wheeler said the prop­erty was one of the only un­de­vel­oped residential sub­di­vi­sion sites with ap­provals in place re­main­ing within the city’s ur­ban growth bound­aries.

“It was a tightly held hold­ing,” he said. “I un­der­stand there has been in­ter­est from quite a few de­vel­op­ers who have at­tempted to buy the site over a num­ber of years.”

He said the prop­erty was min­utes from the Thuringowa busi­ness dis­trict in­clud­ing one of the re­gion’s largest shop­ping cen­tres in Wil­lows and the en­ter­tain­ment precincts of Cannon Park and River­way.

The site, which has ac­cess from Her­vey Range Road, has ap­provals for about 350 lots.

Maid­ment’s Bohle Plains site.

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