The land lease developer paid $9.6 million for the four parcels of land totaling 12ha at Upper Coomera which were settled between April and June this year, but building won’t begin for at least two years because the land is yet to be rezoned from rural to residential according to the Gold Coast Bulletin.
Ingenia CEO Simon Owen says they are planning between 200 and 240 two- and three-bedroom homes priced from the mid-to-high $300,000 range on the site, which is close to the new Westfield Coomera Shopping Centre due to open later this year.
A long-term investment then, but one that will likely pay off.
As we reported here, Seachange Lifestyle Resorts is already moving residents into its 124-home community in the same suburb with houses priced from $449,000.
