No horsing around for Devine

Written on the 15 September 2010

DEVINE Communities has lodged a DA with Gold Coast City Council to convert a former horse stud at Willow Vale into a $160 million master-planned community.

The property was once owned by the late Queensland politician Russ Hinze. The proposed Waverley Park estate will be built on two parcels of land in Waverley Drive, Willow Vale, which Devine Communities is in the process of acquiring for $22 million.

The estate will feature 338 residential lots, with a mixed of detached housing, terraces and ‘Fonzie’ flats (units built over a garage). Lots will range from 200 sq m for the terrace houses, and up to 700 sq m for residential lots. There will also be a large park fronting Hotham Creek.

A DA green light would be welcome news for Devine Limited (DVN). The company is embroiled in a legal investigation alleging two former staff siphoned more than $1 million.

 

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