Toowoomba developer Clive Berghofer to release more vacant lots to city’s property market to meet growing demand thanks to HomeBuilder grant scheme
Toowoomba developer Clive Berghofer has released nearly 50 new vacant lots onto the city’s tight property market, with his company selling them earlier than normal to meet growing demand for residential allotments.
Development
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Toowoomba property developer Clive Berghofer is preparing to release more new residential lots onto the city’s tight property market.
Mr Berghofer’s company Jeteld Pty Ltd submitted to the Toowoomba Regional Council this week to sign off on another 46 lots along Kearney St in Kearneys Spring, not far from the University of Southern Queensland campus.
It comes three years after the Toowoomba identity was approved by the TRC for the lots.
As part of the arrangement with the council, two strips of vacant land fronting onto Kearney St have been created for electricity supply easements, while another large parcel has been transferred to the council as a trustee to build a new stormwater detention basin.
More than 670m of new internal roads and streets will be created as a result of the subdivision.
The eventual survey signing from the council will be a boost for the region’s current lot supply, which has been called too low by some property analysts including Michael Matusik.
The plans form the first stage of Berghofer Land Sales’ Kearney West Estate, which includes five sections and 350 lots across a huge parcel of land.
On the website, the company announced it was making land available for sale earlier than normal to keep up with demand generated by the Federal Government’s HomeBuilder grant scheme.
“The construction of Kearney West stage one has been completed by Shadforth Civil,” the website said.
“The survey plan and ‘as constructed’ engineering plans have been prepared and lodged with Toowoomba Regional Council for approval.
“We do not normally commence selling our land until the survey plan for the development is registered, but for Kearney West we have decided to release the land early.
“Contracts will be prepared with disclosure plans to allow buyers to take advantage of the HomeBuilder grants on offer.”
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