BriStar Group settle on Thornlands parcel of land for a new estate featuring rare acreage residential lots

A southeast Queensland developer has launched a new estate on Brisbane’s bayside with a quarter of the residential acreage lots already sold.

The 31ha site at 157-197 Woodlands Drive, Thornlands, which has been bought by the BriStar Group for $15.675 million.

A SOUTHEAST Queensland-based developer is set to start civil works by the end of the year after settling on a large parcel of former agricultural land in Brisbane’s bayside which will become an acreage residential community.

BriStar Group paid $15.675 million for the development approved 31ha site 157-197 Woodlands Drive, Thornlands, after an expressions of interest campaign by Ray White Special Projects’ Mark Creevey and Tony Williams.

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BriStar managing director Peter Zhuang said marketing for Parc Thornlands started in August and they have sold nine 6000sq m plus residential lots on the project.

“We have approval for 38 freehold residential lots in total with about 1ha for commercial/retail use and 3.67ha approved for retirement and aged care,” he said.

Mr Creevey said the development approvals that were already in place before the campaign which gave potential buyers highly sought-after security and that led to a strong campaign.

“The market for land parcels in southeast Queensland is buoyant right now and when one comes to market with development approvals, it attracts strong interest,” he said.

“The campaign yielded more than 60 inquiries with eight expressions of interest received from a mixture of local and interstate mostly private developers.”

The sellers of three-lot land parcel achieved a development approval by the Redland City Council across the site via a Negotiated Decision Notice.

The property features two dams which will be drained before civil works are expected to start by the end of the year.

Mr Williams said the asset offered an opportunity to deliver a premium acreage land estate in a highly sought-after Bayside area.

“With supply of acreage allotments in southeast Queensland and Redlands being very limited, the site was well positioned to supply to a market place diminishing in opportunity for larger allotments to families seeking additional space and an alternative to the traditional lot sizes,” he said.

“Only 28km southeast of the Brisbane CBD and 10km from Cleveland CBD and train station, the site is near a vast array of local amenities and services including shopping, schools, recreation and parks.”