Andrew Beaumont and Wayne Riddell’s latest venture: New Taranganba subdivision plans

Developers Andrew Beaumont and Wayne Riddell have plans for a new 76-lot subdivision to be built on the Capricorn Coast. See those plans and other coastal developments in the pipeline here.

Wayne Riddell and Andrew Beaumont have plans for a new subdivison at Taranganba.

A new subdivision has been proposed for the Capricorn Coast, along with many other applications, as developers push through new stages amid the tight housing market in the region.

Rockhampton businessmen Andrew Beaumont and Wayne Riddell have put together a proposal for a residential 76-lot estate at Lot 10 Taranganba Road, Taranganba.

No strangers to developments in Central Queensland, the pair has been involved in many projects together including Rockhampton riverfront developments the $50m Empire Hotel Apartment Hotel in 2012, the $17m Gallery stage one in 2018 and Yeppoon foreshore $28m Salt Apartments in 2016.

Council approval was granted this year for Gallery stage two, a $10 million eight-storey development with 14 three-bedroom units and one four-bedroom penthouse unit.

This project is on hold due to the rising cost of building costs across Australia.

“To do projects and be great mates doesn’t happen often,” Mr Beaumont said.

This isn’t Mr Beaumont’s first subdivision at the coast either – he was actually involved in a housing development in 2004 off Jordan Close near Taranganba School, just down the road from his new one.

The pair bought the Taranganba Road 10-hectare block of land and the sale settled last month.

Residential lots for the project are proposed to range in size from 749m2 to 1260m2, with the average lot size 833m2.

There would be around one hectare of the block left for parkland and a detention basin.

The land would be fully cleared prior to the subdivision however it is noted there no protected or essential habitats on the land.

All lots would be connected to urban infrastructure and services and the first lot would be accessed from Robinson Street and an extension of Frangipani Drive.

The estate is located just 400 metres from the Capricorn Tavern, 600 metres to Lammermoor Beach and Cedar Park Shopping Centre.

Mr Beaumont has another project, Beachlink Estate, underway at Bargara, and has planned the Taranganba development quite similarly to that and other estates in the Yeppoon area.

“Our plan is consistent with what they are doing at Sea Haven … larger blocks, high-end estate,” he said.

The development would be a combination of selling vacant lots and houses would be built on some.

Lockdowns and border restrictions in southern cities have paved the way for an exponential surge in people moving to regional areas like the Capricorn Coast.

This in turn has created a lot of demand for properties and there isn’t enough supply to keep up with it.

House sales across the region for 2020 rose by 43.3 per cent, with 791 more houses, compared to the year before.

A housing study commissioned by Livingstone Shire Council in February revealed an estimated 3250 people are predicted to move to Yeppoon and Emu Park over the next five years.

To meet this demand, it was predicted that 330 dwellings would be needed per year, for five years.

A quick search on November 12 on www.realestate.com.au showed about 150 properties available in the main Yeppoon suburbs to buy.

It was reported in April, Livingstone had a vacancy rate of 0.5 per cent.

This is attested by the results of a rental search for Yeppoon, which only came up with nine available properties, including two in Taranganba.

“The demand is there in the regions at the moment, Yeppoon seems to be quite strong at the moment,” Mr Beaumont said.

“Sydney, Melbourne, New South Wales, Victoria are looking online and thinking my god, two minutes from the beach and you’ve got an 800m block, you’re around $200,000, they can’t believe the value.

“The reason I like Yeppoon, there is a percentage of interstate buyers, the larger percentage are people looking to relocate from Rockhampton or young families are getting involved with the infrastructure projects and choosing to live in Yeppoon.

“We have property cycles, it comes and goes, you have to get in while the cycle is strong, we believe it is going to be a longer cycle due to the infrastructure projects that are underway.”

The Taranganba estate development is yet to be approved by the council.

LATEST DEVELOPMENT APPLICATIONS

Applications related to new lots submitted to Livingstone Shire Council from August 1 to November 11:

• 76 new lots at Lot 10 Taranganba Road, Taranganba
• 17 new lots at 60 Rattenbury Road, Ironpot
• 12 new lots at 1161 Tanby Road, Tanby
• 32 new lots at 255 Panorama Drive, Inverness
• 12 new lots at 1161 Tanby Road, Tanby
• 31 lots for two new stages at Sea Haven Estate, Lot 15 Taranganba Road, Taroomball
• 16 lots for one new stage at Sea Haven Estate, Lot 5006 Havenwood Drive, Taroomball
• 8 new lots at 318 Tanby Road, Taroomball
• 5 new lots, access and services at Lot 550 Sypher Drive, Inverness
• 7 new lots at 156 Barmaryee Road, Barmaryee
• 4 new lots and access at 67 Clayton Road, Lammermoor