$3 billion Cobaki project approved

Written on the 7 December 2010

$3 billion Cobaki project approved

A $3 billion master-planned community at Cobaki on the New South Wales-Queensland border was rubber stamped today by the NSW Minister for Planning Tony Kelly.

When complete, Leda Development’s satellite township will be home to around 12,000 residents. Nestled between the Tweed Hinterland and the Gold Coast’s Kirra and Greenmount beaches, the 594-hectare site will link the Gold Coast Highway at Tugun and the Tweed hinterland via the 4 km Cobaki Parkway across Cobaki Creek.

A key feature of the approved concept plan is a central recreational and environmental park almost 3 km in length, providing natural and formal sporting features that are accessible to all individual residential precincts.

A town centre based around a full-line shopping centre with medical and child-care facilities, cafes, tavern and commercial space will complement two state schools which will cater for the population growth earmarked by the NSW Government and Tweed Shire Council. The site has been zoned for development in the Tweed Shire’s Local Environment Plan for almost 30 years.

Leda Holdings’ executive chairman Bob Ell, says the approval finally acknowledges a vision for the area that is focused on ‘community needs and expectations’.

“The site has been earmarked for development since the 1980s. As it has remained dormant for that time, there’s been a lot of speculation about its future,” he says.
“Today’s approval gives the green light to a community positioned between the Tweed’s hinterland and iconic beaches that will be attractive to families in the Gold Coast -Tweed region through its proximity to the Tugun Bypass and Gold Coast Highway.”

A full spectrum of residential products will establish Cobaki as a diverse community, with plans for spacious elevated home sites through to medium density living around the central town centre and sports fields. Retirement living is also planned at a convenient yet respectful distance from the activity of the town centre.

Leda Developments is part of the Leda Holdings property group, which has an extensive development and investment portfolio worth throughout Australia. The Cobaki master planned community will become a signature residential development alongside the Leda’s more traditional commercial projects such as St Leonard’s Corporate Centre; the Rydalmere Metro Centre and the Logan Hyperdome on the northern Gold Coast.

The master-planned community will also:

• Provide an additional 100ha of land for conservation and environmental remediation;
• Include over 30 ha of sports fields and parklands;
• Be only a five minute drive to the Gold Coast International Airport, and 40 minutes to Byron Bay;
• Generate $15 million in developer contributions annually;
• Average $200 million per year in the value of construction.



Latest News

SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

CLEANING and catering services company Spotless has rejected a $1.26 billion takeover bid from mining services firm D...

EXCLUSIVE INTERVIEW: MEGAPORT CEO VINCENT ENGLISH ON GLOBAL EXPANSION AND HOW TO SCALE UP A BUSINESS

THE RAPID expansion of Megaport (ASX: MP1) continues with the Brisbane-based company announcing a major partnership d...

BRISBANE ENTREPRENEUR BREAKS BARRIERS IN ECO-BUSINESS

TRACEY Bailey believes that if every person understood the true social and environmental cost of every product the...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter