Developer’s local empire expands with prime land purchase

A Moreton bay developer has spent $23 million to purchase an old quarry site, with plans to develop the prime land into a 650 lot estate, minutes from a growing suburb.

A Moreton Bay developer, who has built 45 housing estates in the region, has spent $23.5 million to acquire an old quarry in order to kickstart the future build of an estimated 650 lot housing estate.

Trask Land has purchased the old Narangba quarry, a 19.66 hectare site at 9-17 Wheaton Street, 200 Mackie Road and 34 Boscoe Road, with plans to develop the site into an estate offering a diverse range of lot sizes.

Trask Land Director David Trask has already bought land on Callaghan and Boscoe roads, to assist in facilitating this future development.

“With this site and other sites I own in Boscoe Rd, we’re looking in the realm of 650 lots that would be developed over the combined sites,” Mr Trask said.

The 19.66 hectare site of the old Narangba quarry is poised to transform into a prime piece of land for a new housing estate. Picture: Contributed

“Because it's an old quarry site and all the quarry operations have been finalised for some time, it has restored the ground level to a flat site.

“This makes it easy from an engineering perspective and the remediation works.

“The site is located right in the middle of Narangba and near the township itself, which are good attributes that young families are looking for.

“I’m hoping to have a development application lodged in the near future.”

Colliers Queensland facilitated the sale of the old quarry.

Colliers spokesman Adam Rubie said more than 100 enquiries were received for the site, with the scarcity of development opportunities of this scale for residential subdivision creating the strong interest.

“The site was previously used as a quarry which has since ceased operation, providing a great opportunity for this developer to purchase a significant amount of land and to take advantage of the strong demand for new housing developments,” Mr Rubie said.

An aerial shot of River Breeze, another Trask Land residential subdivision in Moreton Bay. Picture: Contributed

Colliers Queensland’s Brendan Hogan said Narangba East has been identified as a Local Development Area Plan for future urban development.

“The property was in demand as it is situated in a high-quality infill location in the northern corridor of Brisbane,” Mr Hogan said.

“Narangba is an established residential neighbourhood with established schools, shops, cafes, restaurants and parks.

“The site is well connected to major highways, infrastructure and public transport amenity, and Narangba Train Station is 250 metres away.

“There has been a range of low to medium density housing product developed in the immediate area which has been well received by the marketplace.

David Trask from Trask Land has bought up a lot of land in Narangba to develop three estates so far. Picture: Contributed

“The suburb is well located in relation to a number of key employment nodes such as the North Lakes Business District and Caboolture CBD.”

Mr Trask hopes he will be able to fastrack this development, as the old quarry site has no habitat value or broadscale vegetation mapping, that developers typically need to deal with on other sites.

Mr Trask completed his first estate in 1994, Hidden Forest at Gordons Crossing Road in Joyner, which won an award at the Urban Development Institute Australia Awards in 1996.

Since then, Trask Land has completed 45 estates across Moreton Bay and with the completion of current developments, Trask Land will have built 9,000 housing lots in the region.