LM AND YOUNG LAND CORP END PARTNERSHIP

Written on the 8 June 2010

LM AND YOUNG LAND CORP END PARTNERSHIP

LM Investment Management (LM) has dissolved a partnership with Young Land Corporation on a $750 million JV project at Coomera.

It comes as Young Land scales back its Gold Coast operations to focus on developments in Yeppoon, North Queensland.

LM will now solely undertake the project after lodging a DA for stage one with Gold Coast City Council.

The first stage will contain 144 lots comprising 171 dwellings with some attached duplex product (40) and townhouse (10) product planned.

Lots for detached dwellings range from 400m2 to 600m2. Around 5.5 hectares of open space will be allocated for environmental and recreational purposes.

LM chief executive Peter Drake told www.goldcoastbusinessnews.com.au that the split with Young land Corp was amicable.

The company is forging a strong property presence in Queensland after it recently co-launched a $120m project in the Redland Shire.

Believed to be the largest residential unit development in the region, the income funds manager has teamed up with Queensland developer Balmoral Commodities for the Rhodes residential project at Capalaba.

Rhodes will occupy a prime 1.4 hectare site on 54 – 58 on Mt Cotton Road and feature 271 apartments across six buildings, each limited to six storeys to assimilate with the project’s surrounding environment.

Drake says the partnership represents an ongoing commitment to the company’s exploration of quality property opportunities throughout Australia.

“Given Capalaba has been designated as part of a major growth hub/satellite city by the Queensland Government, Rhodes is an outstanding, quality project for LM to be associated with. It is gratifying to be a part of a team committed to delivering a project to meet the region’s future development and residential needs,” he says.

Rhodes will contain a mix of two and three bedroom apartments, sized from 93sqm to 180sqm.


Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter