QIC sell Coomera Town Centre site for c$30m

22 January 2021

The Queensland Investment Corporation have sold a 47ha parcel of land in Coomera for approx $30m.

The site at 64 Foxwell Road is situated between the Dreamworld and the Westfield Coomera which QIC developed in a JV with Westfield. The land is the final piece of the Coomera Town Centre puzzle which was QIC held.

The government entity last year tasked CBRE’s Mark Witheriff and David Corke and Colliers’ Jason Lynch, Brendan Hogan and James Holland to take it to market in an expressions-of-interest campaign.

The property benefits from a Preliminary Approval which has established the Coomera Activity Centre South Development Code and this approval allows for a range of code assessable uses and development types including residential, commercial and retail uses.

Given the expansive biodiversity value of parts of the site, the Activity Centre Plan currently permits high density development on approximately 10ha of the site with buildings heights of 39m and 54m.

The site was acquired by developers Keylin and Kinstone Developments who have developed a range of residential projects on the Gold Coast.

Keylin managing director Louis Cheung said the purchase is part of the company’s ongoing investment into the northern Gold Coast.

“We are pleased and humbled to announce our latest acquisition of Coomera Town Centre South, a continuation of our vision and investment into the Northern Gold Coast” Mr Cheung said.

Coomera Town Centre South - Gold Coast, 64 Foxwell Road, Coomera, QLD 4209  - Development Site & Land For Sale - realcommercial