Villa World has bought a residential development site in the Peregian Springs development on the Sunshine Coast from FKP Limited.
The 4.7 hectare site will yield approximately 90 villas and townhouses with an end value of around $36 million.
Villa World’s chief executive Brent Hailey said planning approval for the project is to be sought immediately with approval expected to be granted by mid 2007.
Selling of the first stage is expected to commence late in 2007.
By Kathryn O’Meara
