BMD subsidiary Urbex pumps up development pipeline with Hillside project

A Brisbane-based developer controlled by one of Queensland’s richest businessmen will launch its latest house and land project on the Sunshine Coast later this year.

BRISBANE-based Urbex will launch its latest house and land development on the Sunshine Coast later this year.

The 136-lot Hillside development at Mooloolah adds to an already bulging 3500-lot plus pipeline in Queensland for the BMD subsidiary, controlled by the Power family.

BMD managing director Mick Power was recently ranked the 155th richest person in the country with an estimated wealth of $633 million in The List, published by The Australian.

Urbex general manager Peter Sherrie said the project will provide for an undersupplied land market while celebrating the sites unique environmental attributes.

“Throughout the project we will be consulting with a number of environmental experts to ensure the open space footprint, native wildlife and flora meet our sustainability objectives,” he said.

BMD chairman Mick Power. Picture: Annette Dew

Urbex paid $5.1 million for the 59ha site at 170 King Rd, Mooloolah.

In southeast Queensland the company is currently also developing also a 200-lot Banks development in Logan Reserve; 1500-lot Capestone at Mango Hill, 123-lot Minnippi at Cannon Hill and the 49-lot Harriett Lane project at Oxenford.

It also has three major projects in North Queensland.

Mr Sherrie says the latest addition to Urbex’s national residential development portfolio will be one of many projects coming to fold in 2019 to meet with a shortage of land in southeast markets.

“We are increasingly seeing a trend for first and subsequent owner occupiers in the region and as the population continues to grow, we want to be on the front foot,” he said.