GOLD Coast based developer Sunland is looking its rekindle is past success by unveiling the largest project release line up in its 26-year history, in the company’s home state of Queensland.
Managing director Sahba Abedian said the move is a back to basics strategy for Sunland, which had proved to be very successful for the company.
Next year, Sunland will launch nine new residential developments on the Gold and Sunshine Coasts, in south east Queensland next year.
Managing director Sahba Abedian said the projects will deliver 943 homes with a combined end value of $511 million.
The projects are the result of Sunland spending $55.4 million in past 12 months acquiring numerous assets whilst other companies batten down the hatchet.
The new projects are the Estate and the Address at Sanctuary Cove; The Concourse and the Bouvelard at Royal Pines; the Glades, Pacific Pines, Cassia and Marine Parade on the Gold Coast; and finally Peregian Springs on the Sunshine Coast.
The Marine Parade development also signals Sunland’s return to the high-rise sector, Abedian said.
“High-rise development have been a large and successful part of Sunland’s history, from our first residential tower at Malibu in Main Beach in 1986 to the most recent award winning Balencea in Melbourne,” he continued.
Pending council approval, the new development is earmarked for release at the end of 2010.
“We are looking to replenish the group’s portfolio with a focus on mid to large scale urban and residential developments in south east Queensland and Victoria, where the first and second home buyers markets are showing continued resilience in the current market and re focus our energies through this back to basics strategy,” he added.
Abedian said Sunland has a robust pipeline with 3,950 lots across 28 projects in three states with a combined end value of $1.3 billion.
Australian Property Journal
