VILLA WORLD SNAPS UP GOLD COAST LAND FOR $300M RESIDENTIAL DEVELOPMENT

VILLA WORLD SNAPS UP GOLD COAST LAND FOR $300M RESIDENTIAL DEVELOPMENT

RESIDENTIAL developer Villa World (ASX: VLW) has secured one of the last remaining parcels of Central Gold Coast land for $300 million with plans to build a 400-house development.

The Arundel Springs community is the largest residential development the group has undertaken on the Gold Coast and taps into a growing demand for more homes in the area.

The project is located next to the Coombabah Lakelands Conservation Area and has access to the extended light rail project.

The $300 million investment joins the $180 million already spent by Villa World in this financial year on site acquisitions.

"It's probably the right project at the right time for the Gold Coast, particularly with the level of infrastructure spending currently under way for the Commonwealth Games, including the light rail," says Treasure.

"Arundel Springs underscores the investment Villa World has made in the Queensland residential market in recent years."

Treasure says the first release has been received well, with more than 50 per cent of homes already sold, totalling $8.2 million.

Villa World has already received more than 150 registrations of interest for the second stage of the Arundel Springs project.

Treasure says that for each sale, the company will donate $2,500 to the Gold Coast Hospital Foundation.

Never miss a story: Sign up to Business News Australia's free news updates

Follow us on Twitter, Facebook, LinkedIn and Instagram

 

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Former IPO hopeful Limepay acquired by Spenda at a fraction of the $43.5m invested

Former IPO hopeful Limepay acquired by Spenda at a fraction of the $43.5m invested

White-label buy-now pay-later (BNPL) company Limepay may have ...

Melbourne construction safety software group HammerTech receives $105m investment for growth

Melbourne construction safety software group HammerTech receives $105m investment for growth

HammerTech, a Melbourne-headquartered safety intelligence software ...

Here’s how to make sure Indigenous businesses keep thriving across a wide range of industries

Here’s how to make sure Indigenous businesses keep thriving across a wide range of industries

When discussing the creativity and ingenuity of Indigenous people, ...

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

After rival Superloop (ASX: SLC) scooped up its white labelling agr...