Strata unit project on the way

Fund manager Natgen has snapped up a development site in a high-growth Lendlease masterplanned development south of Brisbane, with plans for an office/warehouse project.

They paid $1.75m for the vacant 4166 sqm site at lots 25 and 26 Wongawallan Dr, Yarrabilba, and the company will invest more than $10m into the 15 strata-titled unit project.

Natgen managing director Steven Goakes said there was strong investor demand for high-quality commercial developments with excellent returns. “This acquisition reflects the significant demand we have experienced for these types of assets from our investors,” he said.

Natgen raised capital to fund the Yarrabilba purchase and development through the YB24 Development Trust.

The Trust will have a targeted total pre-tax return of 25.42 per cent over the 18-month term of the trust.

Construction is expected to be completed by October 2025 with settlement of sales in March 2026.

Mr Goakes said they have been monitoring the early development phases of the areas. “Yarrabilba has now reached a sweet spot with the confluence of population growth, infrastructure and future potential, so we have a risk-managed entry into this growth area,” he said.

The fully-serviced site enjoys two-street frontage, including a long frontage to Wongawallan Drive – a main thoroughfare through the future planned commercial and town centre precincts of Yarrabilba.

Article by The Courier Mail
Written by Chris Herde
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