VILLA WORLD BUYS GREENBANK LAND IN JOINT VENTURE
Written on the 16 September 2016 by James Perkins
VILLA World Group (ASX: VLW), has purchased a 153-hectare site at Greenbank, 34 kilometres south of Brisbane, for $50 million in a joint venture with Greenfields Development Company.
He says Greenbank will bolster Villa World's presence in the growing Logan corridor.
"This is a well-located property, which is in the growing area of Brisbane and has some essential elements, such as schools, shops and amenities, that people want to live near; and it is in reasonable proximity to Springfield Town Centre and its university and hospital."
Treasure says work will commence quickly - the first stages will be built in 12 months and the entire development will be finished in five to seven years.
"We're very pleased about the initial project in Sydney and have been fortunate to acquire a site in Queensland, as Greenfields are interested in diversifying their portfolio into this state as well."
The site was purchased from Teviot Downs Estate through Tony Williams and Mark Creevey from Ray White Special Projects.