Publicly listed property group, Mirvac, is continuing to expand its development pipeline in south-east Queensland, securing a 481 hectare parcel for a major new masterplanned community in Brisbane's south-west growth corridor.
The developer is proposing to build over 3,000 residential homesites on the undeveloped land, situated in Greenbank, in the Greater Flagstone Priority Development Area, about 30 kilometres south of the Brisbane CBD.
A development application is expected to be lodged for the proposed development with Economic Development Queensland later this year.
The site is the latest off-market acquisition Mirvac has secured in south-east Queensland, and comes on the back of its release of a string of new projects including Unison - the third stage of its iconic Waterfront Newstead, Art House in South Brisbane, Aston Grove in Bridgeman Downs and Greystone Terraces at Everton Park.
Mirvac has also sold over 450 of a total 2,200 residential homesites it will roll-out at its Gainsborough Greens masterplanned community in Pimpama, in the Gold Coast's northern corridor.
Mirvac Head of Residential, John Carfi, said south-east Queensland would continue to be a focus for the developer.
"There is a lot of opportunity in the south-east Queensland property market," he said.
"We finalised development on two, long term masterplanned community projects earlier this year - Mossvale on Manly and Sanctuary on Moggill - and have been strategically looking for a new site for our next major community, to diversify our offering in Queensland.
"This parcel of land ticked all the boxes”.
"As part of the Greater Flagstone Priority Development Area and with its proximity to the Brisbane CBD, Greenbank is set to be a major centre for growth in the coming years, and we look forward to playing a central part in that expansion."
Mr Carfi said Mirvac was proposing to develop a masterplanned community on the site that would include over 3,000 residential lots, a primary school, neighbourhood centre, a major recreational park and a major sports park.
"We are planning to dedicate over 100 hectares of the site to green open space, which will retain the character of the area and create a real family-oriented community," he said.
"We have identified the strong demand for new residential communities in this area, with existing employment, retail, education and transport infrastructure all in easy reach.
"The site itself is also situated opposite the existing Greenbank Shopping Centre and is just 10 minutes east of the Springfield CBD, including Mirvac's Orion Shopping Centre, which is currently undergoing a $154 million expansion."