GreenFort buys two more land lease sites
GreenFort Capital has snapped up two regional land lease development sites for projects set to carry a c$500 million end value.
In Gowrie Junction, about 13 kilometres north west of Toowoomba, the alternative fund manager is paying $15m for a 25.1 hectare parcel on which it recently submitted plans for 422 dwellings.
Meanwhile at Elliott Heads, near Bundaberg, the partnership is acquiring a block set to accommodate c1040 homes.
The deals come seven months since we reported GreenFort with Gaw Capital, for their Liven Communities brand, bought two LLC sites – one measuring 7.5 hectares at Southside, in the state’s Gympie region, and the other covering 5.7ha in Hervey Bay.
Gowrie Junction
GreenFort recently submitted plans for the Gowrie Junction parcel on Gowrie-Birnam Road.
With an end value of c$100m, it will contain a two storey country club with a 40-seat cinema (artist’s impression, top), an indoor golf simulator, billiards room, café, wellness centre and 2.5ha of gardens (story continues below).
The bulk of dwellings (406) will be configured with two bedrooms with an alfresco area and garage.
The balance will contain three bedrooms, with an internal size from 236 sqm.
It would be delivered in 16 stages starting next October, running nine months.
The Elliott Heads project meanwhile is expected to carry an end value circling $400m.
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