Oreana makes Queensland debut with 252-lot $110m subdivision in Morayfield

A Melbourne developer/builder has ventured to Queensland for the first time with a $110m 252-lot masterplanned development north of Brisbane.

Oreana Managing Director and co-founder Tony Sass.

Diversified Melbourne developer Oreana has moved into the Queensland market with the

acquisition of a prime 21ha masterplanned community north of Brisbane.

The privately-owned integrated builder developer paid a total of $32m for 11 properties on the corner of Petersen Rd and J Dobson Rd in Morayfield through Colliers’ Brendan Hogan and Adam Rubie.

With an existing approval for 252 lots, the current forecast is to bring the $110m project to market in early 2025 with a retail sales launch and the commencement of civil works. The lots were previously owned by a private developer who amalgamated the properties over a number of years.

The acquisition is Oreana’s first foray into Queensland and its first significant site acquisition outside of Victoria, where it has built its reputation through its integrated development and construction model across medium density housing, early education and commercial.

Oreana's 21ha site at 281-323 Petersen Rd and 13-37 J Dobson Rd, Morayfield, will be launched in 2025.

Oreana managing director and co-founder Tony Sass said the Queensland acquisition was part of a national expansion that is further bolstered by the recent completion of its first early education project in Perth.

“In Australia’s growth areas we see a huge opportunity to bring integrated housing and community amenity together, servicing the needs of new communities,” he said.

“Over the past 12 months we have focused on placing ourselves in a position to take advantage of opportunities in the current market. We now have the ability and capability to

expand nationally and see Queensland as critical to our success.”

Its operations in Queensland will be led by Oreana’s project director Nimai Hawkins.

Oreana has a pipeline worth $3bn in Victoria across medium density residential, commercial, early education are moving more and more into land development.

It is projecting to double its growth in less than four years, increasing is gross realisation value from $350m in 2023 to an expected $800m by 2027. This includes lifting its delivery of land lots from a current average of 200 per year to up to 800 per year over the next three to five years.