Big plans for Coast property
Queensland property fund manager and developer Natgen has completed the settlement of a key Gold Coast site where it plans to build a strata-titled unit complex.
Natgen Development Trust BL26 paid $10.9m for the 8067 sqm site at 663 Pine Ridge Rd, Biggera Waters, marking the launch of its latest commercial development trust on the northern Gold Coast.
The site will be developed into a new commercial warehouse facility comprising 24 strata-titled units ranging in size from 80 sqm to 325 sqm, with on-site carparking, individual amenities and landscaped common areas.
The total development is forecast to cost $26.9m, with investor capital of $12.5m supported by non-recourse borrowings at a maximum debt LVR of 60 per cent.
The Trust is targeting a pre-tax return on investment of 25.2 per cent over a forecast term of 24 months, net of all Trust fees and expenses.
Natgen managing director Steven Goakes said the Biggera Waters site sits within one of the Gold Coast’s tightly held and well-established industrial precincts within the Brisbane Rd and Gold Coast Highway corridor.
“This project is designed to capitalise on the sustained population and economic growth across South East Queensland, particularly along the M1 corridor,” he said.
Lodgement of applications for local authority approval is targeted for July 2026, with construction scheduled to start in September 2026 and settlement of completed strata sales forecast for March 2028. The transaction was brokered by Angus Yule from Colliers.
Article by The Courier Mail
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