CFMG Completes Acquisition of $35m Solander Project

CFMG continues to grow its project pipeline with the settlement of the $35m Solander Project in Park Ridge.

Capitalising on the strategic location within the Brisbane to Gold Coast growth corridor, CFMG’s Solander Park Ridge meets and exceeds all of the CFMG investment criteria.

The project was identified by CFMG given the close proximity to essential services including:

  • Schools and Universities;
  • Shopping Centres;
  • Extensive transport links to both Brisbane and the Gold Coast;
  • Hospital and medical services with the renovated and extended Logan Hospital completed; and
  • 650ha incorporated into the Park Ridge structure plan to provide a Business and Technology centre, industrial, retail, commercial and community centres.

Through a combination of both improving market conditions and the benefits of the projects location the pre-settlement lending valuation confirmed that the project site was purchased by CFMG at a 15% discount to valuation.

With CFMG having secured development approval prior to settlement it is anticipated that the development works for the initial stage of 55 allotments will commence ahead of schedule in April 2017.

CFMG’s project pipeline now comprises 1,200 lots under development or completed and a further 1,000 lots going through the planning and assessment process.

CFMG – Endless Opportunities