CFMG Capital recently secured and settled a strategic 5.7 hectare site in Ormeau Hills, approximately 25km north of the Gold Coast CBD and 45km south of the Brisbane CBD.
With experience developing the 255 lot Brook Estate in the immediate vicinity and confidence in the South East Queensland residential land market, CFMG Capital were able to act decisively on the purchase - completing settlement of the $7.6m site within 30 days.
This new acquisition will be launched as ‘Elevate’ at Ormeau Hills, owing to its elevated location in the sought after Ormeau Hills pocket where there are very limited opportunities to find suitably zoned development opportunities of this scale. The site sits in close proximity to an abundance of already established lifestyle amenity, health and education facilities, outdoor living, public transport and major road networks.
The project site currently has the benefits of an existing approval for a 96 lot residential community and is situated within 1km of the Ormeau Town Centre and the ‘future’ North Ormeau town centre, which includes Woolworths, Coles and IGA supermarkets, petrol stations, cafes and specialty shops.
General Manager at CFMG Capital, Mr Andrew Thomson, said that based on our experience with The Brook, the Ormeau/Ormeau Hills land market has performed well over the past 2 to 3 year period which is a function of the strength of the overall Gold Coast residential market.
‘Land remains relatively tight in this corridor with several large scale subdivisions recently completed or nearing completion within this area’ said Mr Thomson.
Prospective investors will be offered the opportunity to invest into the project through the CFMG Land and Opportunity Fund, which offers the potential to invest at a fixed rate of return of 12% per annum for a fixed investment term.