RAY White Special Projects Qld were engaged as a buyer’s agent to assist with the acquisition of land at 357 Ripley Road, Ripley, which has sold for $14,500,000.
The substantial parcel totalled 48.76ha*, equating to $297,351 per hectare, and sold in an off-market transaction.
Ray White Special Projects Qld Executive Director Mark Creevey said the land had been held by the same family for over 50 years.
“The site was designated for residential development with a strategic position at the very northern end of the Ripley Valley, directly opposite the Hayfield Estate by Goldfields, and the Caltex/McDonald’s service centre,” Mr Creevey said.
“The transaction required the purchaser to subdivide the land to create a super lot of 5ha* for commercial and medium density residential uses which will be retained by the seller and their joint venture partner.”
Plan of subdivision with future shopping centre shown in blue.
Ray White Special Projects Qld Executive Director Tony Williams said purchaser HB Land had a development proposal for 570* residential lots, which is to be developed over 18 stages.
“The proposed development represents HB Land’s first foray into the thriving Ripley area and includes the delivery of significant community infrastructure,” Mr Williams said.
“The development will include a 5,047sq m* local park, a further 3.6ha* environmental park, and makes provision for a 5.1ha* local sports park which will provide a major benefit for the Ripley community.”
HB Land has worked closely with the Ipswich City Council and Economic Development Queensland on the DA application, which is yet to be finalised.
Ripley Valley is planned to become one of Australia’s largest master-planned communities with a proposed population of 120,000 people.
Local sports fields.
The region offers significant opportunities for residential growth with the ability to provide affordable accommodation options for owner occupiers and investors.
Ripley Valley is near a range of major industrial and employment generators including; Swanbank Enterprise Park, Amberley RAAF Base, Springfield City, Ipswich CBD, Citiswich (new Costco location), Ebenezer Industrial Park and Redbank Industrial estate.
HB Land Pty Ltd is a wholly-owned Australian Subsidiary of Ho Bee Land Limited, a listed Singaporean developer. Ho Bee Land has been listed on the Singapore Exchange for over twenty years.
In February 2020, they established an Australian head office with an Australian-based team. HB Land Pty Ltd in Australia is led by CEO Mr Michael Vinodolac, and supported by an experienced local team of staff.
Mr Vinodolac said the land parcel represented an exciting opportunity for HB Land to acquire a strategically located development site in the fast-growing western corridor of South East Queensland.
“It’s only 40 minutes* south-west of Brisbane CBD, 15* minutes from Springfield City to the east directly via the Centenary Highway, or 10* minutes north to the Ipswich CBD,” Mr Vinodolac said.
“HB Land has an appetite for site acquisitions or JV opportunities and are actively seeking to purchase residential development land in the growth areas of South East Queensland, Melbourne and NSW.”