VILLA WORLD NESTLES INTO THE NORTH SIDE WITH NEW OFFERING

VILLA WORLD NESTLES INTO THE NORTH SIDE WITH NEW OFFERING

LISTED developer Villa World is expanding its offering in Brisbane's north after picking up a contract with Economic Development Queensland to deliver a collection of urban business residences.

Located within the Fitzgibbon Chase community, Villa World will deliver 12 terrace style homes combining residential and commercial uses.

The dwellings feature ground floor professional suites with a street presence, and one or two-bedrooms on the upper level.

Villa World general manager for communities and business growth Carl Bruhn says The Nest is in response to the shift in the way people use their homes.

"Increasingly, professionals are working from home or in smaller teams and this style of home gives them a commercial street presence for their business as well as a private residence," he says.

"The idea is to create distinct and separated zones for living and working, but under the same roof.

"This also diversifies Villa World's offering to the market.  Our traditional focus is affordable family homes, so this is something different that we can deliver for an emerging and growing niche."

The homes will be located on the corner of Carselgrove Avenue and Dorrigo place on the doorstep of the 1300-home Fitzgibbon Chase community.

Residences at The Nest, which sits 12 kilometres from Brisbane CBD, will range in size from 90sqm to 139sqm and will be priced under $400,000.

The Nest will also feature a childcare centre and outdoor community spaces.

The Nest falls within the Fitzgibbon Priority Development Area (PDA) which covers 295ha of land in the northern suburbs of Fitzgibbon, Carseldine, Bald Hills, Taigum and Deagon.

Villa World, headquartered on the Gold Coast, is Queensland's oldest ASX-listed property developer.

In FY15 the company posted a net profit of $25.6 million and continued to build momentum in the first half of FY16, posting an interim net profit of $20.4 million.  The latest result was up 47per cent from a year earlier.

Villa World, an ASX300 company, has targeted a 59 per cent increase in pre-tax profit to $46.6 million in FY16.

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