QUEENSLAND residential developer Heritage Pacific has paid $40 million for a 100 hectare site in Caboolture on Brisbane's north.
Heritage Pacific has bought six separate sites which it plans to amalgamate to develop a 1,500 homesite masterplanned residential community.
Heritage Pacific’s managing director Paul Barrett said the Caboolture Shire has been designated as a principal activity centre under the Queensland State Government Regional Plan.
“We see Caboolture as an exceptional growth centre over the next few years due to its proximity to the
“The acquisitions are about maximising the investment we have already made in the area,” he aded.
The acquisitions take Heritage Pacific’s developable-lot pipeline across four current projects and five projects yet to be launched to more than 3,500 lots with an end gross realisation of more than $1 billion.
Heritage Pacific currently has four residential projects under development including the Forest Ridge (Narangba) and Genesis (Coomera) masterplanned communities and the smaller Bridgeway (Kallangur) and Rivers Edge (Eatons Hill). A further two residential communities will be launched over the next year.
Barrett said the new community at Caboolture would continue to build on Heritage Pacific’s reputation for combining environmentally-sensitive design with innovation and technology.
“We realised the importance of environmental sustainability well before the rest of the development industry and we have led the way in producing energy and power efficient developments that are greener, smarter and easier,” he concluded.
Australian Property Journal
