|
|
 |
17 December 2003
Joint Statement by Delfin Lend Lease and Hancock Group Investments Pty Lt
Delfin Lend Lease Signs Agreement to Create Development for 38,000 Residents
Australia’s largest urban developer Delfin Lend Lease has signed an agreement with the Hancock Group for Delfin Lend Lease to develop one of Australia’s largest master-planned communities, providing housing for around 38,000 people in the Brisbane / Gold Coast corridor.
The deal will see Delfin Lend Lease develop the project, currently known as the Celebration Township, over the next 25 years on the 2,000-hectare site. The site, owned by the Hancock Group, has previously been used as a pine plantation.
The agreement signals the continuation of a long history with the Hancock Group, which was the original owner of the Forest Lake site, developed into a nationally-award winning development by Delfin Lend Lease.
Delfin Lend Lease CEO Rod Fehring said that subject to the necessary government approvals, Delfin Lend Lease expected to start construction within three years.
“The project will include between 12,000 and 16,000 homes, and it will showcase the best approaches to mixed urban development by providing jobs and educational opportunities for locals through the provision of commercial, retail, educational and community facilities,” Mr Fehring said.
“The project also forms a key component of our expansion strategy, which is focused on securing major new sites in key growth corridors throughout Australia.
“Both local and state governments have recognised the Gold Coast / Brisbane corridor as one of the fastest growing regions in Australia. We expect the project will help to meet increasing demand for housing and to avert an anticipated land shortage over the next decade.
“Over the past six months, we’ve worked closely with the officers of the Beaudesert Shire Council, who have shown strong support for the project. We now look forward to working with Beaudesert Shire Council and the State Government on the material change of use process, enabling the area to become a major new destination in the Gold Coast / Brisbane corridor.”
The managing director of Albert Valley Properties, which represents the Hancock Group’s interests, Terry McKinnon, said he was excited by the potential of a long-term relationship with Delfin Lend Lease.
“The Hancock Group is proud to see a major urban community develop on this site, and we strongly believe that Delfin Lend Lease’s 40-year track record will ensure the project sets new benchmarks in urban development,” he said.
“The project will also boost the local economy, injecting up to 10,000 jobs and nearly $9billion in capital works over the life of the project.”
Mr Fehring said the project would be a welcome addition to the company’s existing south-east Queensland portfolio of Varsity Lakes on the Gold Coast, Forest Lake in Brisbane, Springfield Lakes in the Brisbane / Ipswich corridor, and Twin Waters and North Shore on the Sunshine Coast.
“Our south-east Queensland projects have accounted for around 40 per cent of our sales over the past year, so this project will provide a long-term sales pipeline for Delfin Lend Lease,” he said.
Delfin Lend Lease has more than 20 large-scale and inner urban projects throughout Australia covering 9 population centres with more than 35,000 allotments under its control at existing projects.media
|