Diversified property development and funds management group CFMG Capital has expanded its presence on the Gold Coast with the acquisition of a 3.3-hectare development site at Upper Coomera.
The site was acquired for $17 million and is planned for development into a 63-lot residential community, further strengthening the company’s position within one of South East Queensland’s fastest-growing corridors and helping to alleviate pressure on the Gold Coast’s chronically undersupplied land market
The new acquisition takes CFMG Capital’s investment in new commercial and residential development sites this year to more than $66 million, including sites at Bellmere and Rochedale.
CFMG Capital is currently pursuing a reconfiguration of an existing Development Approval on the Upper Coomera site with the Gold Coast City Council, with the project expected to be launched publicly within months. Civil works are anticipated to commence later this year.
The acquisition expands CFMG Capital’s residential development pipeline on the Gold Coast, where the company has already delivered two successful projects — Pimpama Rivers (circa 200 lots) and Elevate (circa 100 lots).
CFMG Capital is also progressing plans for a 64-hectare site at Pimpama, which it acquired for $20.5 million from Leda Holdings founder Bob Ell in 2022, further cementing the company’s long-term investment in the northern Gold Coast growth corridor.
CFMG Capital General Manager Andrew Thomson said the Upper Coomera acquisition represented a timely opportunity to deliver much-needed residential land in a supply-constrained market.
“The Gold Coast continues to experience a chronic shortage of residential land, and opportunities to secure well-located development sites like this are becoming increasingly rare,” Mr Thomson said.
“Demand for housing across the region remains extremely strong, and with the 2032 Olympic Games approaching, we expect population growth and housing demand to continue accelerating.”
“This project will allow us to deliver a boutique residential community in a highly sought-after part of the northern Gold Coast, close to established amenities, transport connections and employment hubs.”
Mr Thomson said CFMG Capital remained committed to expanding its commercial and residential development footprint across South East Queensland, particularly in key growth markets such as the northern Gold Coast.
“We’ve had great success delivering projects on the Gold Coast and see strong long-term fundamentals supporting further development across the region,” he said.
“Upper Coomera sits at the heart of the northern growth corridor, and this acquisition provides another high-quality opportunity to deliver much-needed housing supply.”
With this new acquisition, CFMG Capital’s portfolio now consists of more than 3,000 lots in the pipeline across Queensland and Victoria. This includes a broad mix of projects designed to meet the needs of different buyers, from first home buyers through to upgrader families and investors.