Developer Tom Hedley’s Tolga subdivision in demand

A little Tablelands township is set for a population boom with 30 homes being built and dozens more to come as forward thinking developer Tomy Hedley makes his mark.

INCREASED interest from investors for a new residential development on the Tablelands will help ease the region’s rental crisis, according to developer Tom Hedley.

He is behind Panorama Views Estate at Bellamy Drive in Tolga, 88km from Cairns and 5km from Atherton.

Mr Hedley said investors accounted for about 10 to 15 per cent of house and land purchases.

“There’s more investors coming into the market, they think it’s good value for money, and we know about the rental squeeze because we are looking for rentals for people in our own business,” Mr Hedley said.

There are about 30 homes under construction at Panorama Views.

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“We’ve just finished stage eight and have nine, 10 and 11 – about 50 odd lots, and interest is still strong,” Mr Hedley said.

“It’s people coming from coastal areas, the climate is number one and the relaxed lifestyle is number two, that’s for sure.”

He said although construction costs had increased by about 20 per cent with steep prices for materials, the development was nevertheless perceived as good value.

“The average price is from $430,000 to $450,000 for a house with three or four bedrooms, two bathrooms, a two-car garage,” Mr Hedley said.

House and land packages still available in stage eight include a three bedroom home for $420,000, on a 600sq m block.

It comes with a designer kitchen, ensuite, built in robes, tiles in living areas and carpet in bedrooms, stainless steel appliances, irrigated garden beds and plants, a double remote control lock-up garage and partial airconditioning.

Another package, priced at $451,000, is a four bedroom home on a 740sq m block with great views.

The median price of a home at Atherton itself is $360,000 – up from $305,000 a year ago, according to CoreLogic data.

Mr Hedley recently overcame a level of community opposition to plans to renovate the Tolga Pub, which he also owns.

Originally published as Developer Tom Hedley’s Tolga subdivision in demand