VILLA WORLD PUMPS THROUGH ANOTHER 700 LOTS

Written on the 9 February 2016 by Nick Nichols

VILLA WORLD PUMPS THROUGH ANOTHER 700 LOTS

GOLD Coast property developer Villa World plans to push another 700 residential lots through its south-east Queensland development pipeline following a $32 million site acquisition at Logan Reserve.

The unconditional deal marks a long-term view by Villa World of the growth potential in its home market with the proposed offering to be rolled out over 15 stages, likely to take longer than Villa World's preferred short-term development timeframe.

However, the company's annual sales are now tracking at more than 1000 lots, meaning that this single project represents less than a year of Villa World's current sales. The first lots at Logan Reserve are scheduled to be released in early 2017.

The acquisition comprises seven adjoining lots in Logan City, on Brisbane's southern corridor where Villa World is currently undertaking an 81-lot project, The Sanctuary, at Waterford.

Villa World CEO Craig Treasure (pictured) says the Logan Reserve project will deliver 726 lots, with plans to market house-and-land packages from under $400,000.

The latest deal comes on the heels of a $30.6 million acquisition at Arundel on the Gold Coast where Villa World plans to produce 484 lots.

Treasure has previously indicated Villa World's focus on short-term projects was aimed at minimising risk. However, this latest deal indicates a more confident view by the company of the south-east Queensland market.

"Restocking our development pipeline has been a continuing priority," says Treasure.

"We're very pleased to be adding more than 700 lots through this single acquisition which is part of our forecast expenditure of $145-$160 million during this financial year."

 


Author: Nick Nichols

Latest News

CROMWELL CALLS FOR FULL DISCLOSURE FROM INVESTA

CROMWELL Property Group (ASX:CRM) has claimed Investa Office Fund (ASX:IOF) has not disclosed material information ab...

FRAUD CAUSES SILVER CHEF PROFIT SLIDE

EQUIPMENT financier Silver Chef (ASX:SIV) has seen its half-year profit slide due to fraud.

The Brisbane company r...

MEGAPORT QUADRUPLES REVENUE AND INVESTS IN EXPANSION

MEGAPORT (ASX: MP1) increased revenue 345 per cent to $4.46 million in the six months to 31 December 2016, the com...

IN-STORE VETS BOOST GREENCROSS' PROFIT

GREENCROSS Limited (ASX: GXL) shares lifted 5 per cent in trading today after the Brisbane-based company posted a ...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter