Devine is set to buy a major development site in the Brisbane city fringe area for approximately $15 million to $20 million.
Devine has planned a mixed-use development including residential apartments, retail and commercial office space.
Devine’s managing director David Devine said the purchase confirms the confidence that Devine has in the future growth of Brisbane and surrounding regions.
In recent weeks, Devine has bought three development sites in the Brisbane region, including Redbank Plains, Morayfield and Burpengary for $11.1 million.
The projects are expected to yield a total of 257 lots.
Meanwhile in Melbourne, Devine has bought 115 developed lots at Tarneit for $12.7 million.
In Adelaide, the company is set to buy an estate at Andrews Farm, north of the Adelaide CBD, which will yield 90 lots.
By Kathryn O’Meara
