Plans to kickstart Redland Bay Shoreline project after Lendlease posts massive loss
The building industry in southeast Queensland is expected to feel the shockwaves after international property developer Lendlease posted its largest loss on record this week, with multiple projects in progress across the region.
Logan
Don't miss out on the headlines from Logan. Followed categories will be added to My News.
The building industry in southeast Queensland is expected to feel the shockwaves after international property developer Lendlease posted its largest loss on record.
BUYERS WARNED OF GRANT PITFALLS
LOGAN RIVER SEWAGE TREATMENT PLANT
BEENLEIGH REDLAND BAY BOTTLENECK
The global giant, which this week revealed a net loss of $310 million for the year, said it was still pursuing plans to build a 2500-lot estate at Morayfield and a 4000-lot at Redland Bay.
But plans at both sites have suffered setbacks after a state government-instigated coronavirus lockdown in March put the brakes on the building and construction industry.
Staff were forced to take leave and much of the company’s earthworks were mothballed putting the Redland Bay project behind by more than six months.
Earthmoving works for the 4000-lot Shoreline estate were slated to start in April and Carbrook and Redland Bay residents were put on notice in early March before the coronavirus lockdown.
The company said Pine Valley at Morayfield, which is still at the approval stage, was relatively unaffected and Yarrabilba construction continued throughout the pandemic with the company saying it was ready to launch the next 34 lots.
But four months on, no works have started on the greenfield Redland Bay project, which was granted preliminary planning approval with conditions in 2015.
Lendlease Head of Development in Queensland Guy Gibson said on Tuesday, site establishment works would start next week with construction of residential blocks in three weeks and completion of the first stages by mid-2021.
He said 73 lots had been sold with 15 still available.
“Lendlease adopted a sustainable approach to managing COVID-19, making decisions that prioritised the health and safety of our people, customers and contractors,” he said.
“These decisions reflected an extension of the government messages and our own measures, including a review of current works in progress.
CHECK OUT OUR SPECIAL WINE OFFERS
SPECIAL SUBSCRIPTION DEAL FOR AUGUST
“This resulted in pausing the start of construction at Shoreline at the time.”
However, the project could face further delays with the Redland Planning Scheme still to be amended to change the current rural zoning to align with the state’s urban designation.
The issue of planning investigations for the site will be voted on at today’s Redland City Council meeting, which is also likely to discuss the project’s controversial sewerage system, which is yet to be approved.
Redland council approved a road design for the housing estate and a site for the sewage treatment on Scenic Rd in December.
The company has approval to pump the sewage into trucks for the first 200 houses, dumping it at a treatment plant at Mt Cotton.
It then has to build a massive sewerage plant for the area, with Lendlease land on the Logan River earmarked for the plant.