SUNLAND Group (ASX:SDG) has bolstered its investment into Brisbane after securing a development site in Everton Hills for $6 million.
The developer plans to deliver a medium-density residential project comprising 91 townhomes on the site, with an end value of about $47 million.
Located on the corner of Francis and Bunya Roads, the 2.68 hectare site is expected to be settled with the private vendor in November.
Sunland managing director Sahba Abedian says the northern suburbs location will expand the group's portfolio in south-east Queensland.
"Everton Hills is an established community located in close proximity to numerous leading schools, public transport and local shopping centres," Abedian says.
"Our vision for this site is to deliver a desgin outcome which combines leading architecture and urban planning to create a vibrant community environment.
"This amenity will be further complemented by a large central park and the preservation of a 5200sqm portion of the site adjoining the neighbourhood bushland, further protecting the privacy and natural beauty of the site."
Sunland's other developments in Brisbane include the sold-out Abian residential tower under construction in the CBD and Shea Residences in St Lucia.
The group's national portfolio features more than 6000 residential housing, urban development and multi-storey projects valued at $3.7 billion.
Colliers International managed the Everton Hills site.
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