VILLA WORLD SETTLES $30M GOLD COAST ACQUISITION

VILLA WORLD SETTLES $30M GOLD COAST ACQUISITION

ONE of Queensland's largest listed developers, Villa World, is on the verge of launching its next major Gold Coast community after finalising the purchase of a 25ha infill development site at Arundel.

The company has settled its $30.8 million acquisition of the residential-zoned property on Greenacre Drive, which is one of the last major residential development sites on the Gold Coast.

The project will feature a 395-lot community called Arundel Springs, yielding 305 residential lots and approximately 90 town homes.

It is expected the community will create more than 1500 local jobs over the life of the project and inject around $100 million of local economic value for every year of construction.

Villa World CEO Craig Treasure (pictured) says Arundel Springs will appeal to a diverse buyer profile.

"Arundel is a highly popular suburban area favoured by families for its location and amenities including the Arundel Hills Country Club, Helensvale railway station, Westfield Helensvale, Griffith University and Gold Coast University Hospital," he said.

"Arundel Springs is also within walking distance of a new light rail station and is just two stops from the university and hospital and one stop from Westfield."

Land at Arundel Springs will be launched early in the new financial year with home sites ranging in size from 306sqm to 954sqm.

It is less than 10 kilometres from the Southport CBD and is close to key arterials including the Pacific Motorway, Smith Street Motorway and Olsen Avenue.

Villa World is Queensland's oldest ASX-listed housing developer and one of Australia's largest housing providers.

Today, more than 40,000 Australians call a Villa World address home.

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