Peet enters Gladstone property market
19/07/2007Diversified national property group and Australia’s third largest ASX-listed landholder - Peet Limited, has officially announced that planning is well underway for its first land development in Gladstone.
Located approximately five kilometres from Gladstone’s CBD off Kirkwood Road in New Auckland, the 69 hectare land parcel will be divided into approximately 600 residential lots while retaining over nine hectares for parkland and recreational facilities.
Peet’s Managing Director Warwick Hemsley, said the company’s investment into the Gladstone property market was in response to the community’s demand for residential land and in recognition of the region’s emerging economic status.
“The favourable economic conditions driven by the resource-led boom and obvious implications of population growth and demand for land and property made the decision to invest in Gladstone an easy proposition for us,” he said.
Mr Hemsley said that Peet believes in responding to local conditions, the local market, and the changing trends in our community in terms of how people live, work and play and that means staying flexible and being willing to be different.
“Issues around changing lifestyles, expectations and affordability, mean the Great Australian Dream is alive and well, but it’s also undergoing some changes,” he said.
“Peet Limited has responded already by offering a large range of allotment sizes and this range can be seen in our new Gladstone development.”
With an expected end value of $80 million, the estate - called Greenmont Ridge, will be expertly master-planned with lot sizes starting from 480sqm.
Set within a woodland habitat, the site features undulating hills with unique clusters of mature grass trees. Elevated lots provide expansive views over surrounding suburbs to nearby hills.
The estate’s extensive open space and parkland has been carefully designed to instil a sense of community among the future residents.
Schools, sporting club facilities and retail centres are all located close by, along with easy access to the city’s main arterial links.
Project consultants already appointed include award winning urban designers PMM and landscape consultants Urban Space Design.
Civil works are due to commence in late 2007 with the first land release planned for early 2008.
