Valad Capital Services has made a $5 million investment in the $65 million View Whitsunday development at Airlie Beach, Queensland being developed by MST Investment Corporation.
The View Whitsunday property comprises 18.94 ha of natural rainforest and bushland and backs onto the Conway National park and State Forest.
A development permit has been approved by Whitsunday Shire Council comprising 117 villas, central facilities, a managers unit and two land lots.
An application for an additional 12 land lots has been submitted to Council.
VCS’s head Alastair Wright said there is limited availability of land within the Airlie and Cannonvale corridor close to the ocean.
“The quality of the planned buildings, together with the natural setting, views and price points aimed at the middle tier, will create an excellent mix for investors and owner occupiers.” he added.
“It is great to have a partner like Valad who understands development and is able to structure financing for projects like this,” MST’s managing director Mike Tuckerman said.
View Whitsunday brings VCS’ total investments to over $185 million in more than $1.15 billion worth of development projects across Australia including: Noosa North Shore and Redland Bay with Petrac in Queensland; Paradise Point with Marsim in Queensland; an investment in Western Australia with Clough; and other New South Wales investment in the M4M7 property and a development in Bowral.
By Adam Parsons
