Kevin nabs Yatala site
KEVIN Seymour, one of Queensland’s richest people, has maintained his unrelenting appetite for property by spending $22.55 million on land in the heart of Yatala.
The 78-year-old investor and developer already has largely cleared the 64.2ha site, which is on the Stapylton-Jacobs Well Rd.
The land is to be developed into the M38 Industrial Park, which will have lots of from 2000sq m to four hectares.
Mr Seymour yesterday said the name was apt, given that the land was on the doorstep of the M1.
He said the park would be ‘right in the centre of it all’ at Yatala, which was running out of zoned land.
“It’s well known that good industrial land is getting harder to find in southeast Queensland and it’s almost impossible to find parcels greater than 20ha.”
Mr Seymour, who has an estimated net worth approaching $700 million, said he was expediting development of the park, with site clearing and bulk earthworks under way.
“The development will be a real boon for the local economy and we intend it to be one of the best estates in Australia.”
The M38 Industrial Park would have at least two major entrances, one off Stapylton Jacobs Well Rd and the other off Christensen Rd. Its smaller lots are expected to sell for around $350 a square metre.
The Yatala property has been bought from long-term owners William and Patricia Hester via Seymour company KS8. Mr Seymour’s previous activities in the Gold Coast-Yatala corridor have included the near $5.5 million purchase of a 60ha Alberton cane farm in 2015 and the acquisition of a stake in Dreamworld owner Ardent Leisure.
He owns Gold Coast holiday apartments and is hoping to build a luxury boutique apartment building overlooking the ocean at Broadbeach.
It is earmarked for a First Ave site bought for $6 million a year ago.