Aura on The Sunshine Coast is one of the largest masterplanned communities in Australia
- By Peter Gordon
- •
- 19 Aug, 2019
We've had our eye on Aura for a few months now and the article below about this exciting master planned estate is in line with our research as to why this estate, is a stand-out performer of SEQ and the Sunshine Coast. We have some fabulous house and packages available in Aura, so contact the team at Investo if you would like to find out more.
Private developer Capital Property Group has snapped up a 50 per cent interest in Stockland’s largest masterplanned community, a 20,000 lot estate located on the Sunshine Coast.
Stockland says the major project has an end value of $5 billion, with the deal struck with billionaire Terry Snow's CPG.
Stockland chief executive Mark Steinert said the move was in line with its strategy to bring capital partners to invest with Stockland in delivering large scale projects.
“This is a long term investment given the life of the project,” Steinert said.
The Sunshine Coast estate, comprising 20,000 lots, is forecast to become home to 50,000 people over the next 20-to-30 years.
“Aura is one of the largest masterplanned communities in Australia… [CPG] will invest alongside us to continue the creation of an outstanding new city on the Sunshine Coast, combining affordable homes, retail town centres and business parks,” Steinert said.
Snow joined the billionaire club in 2017, largely thanks to his smart investments, chiefly the Canberra airport, which he purchased in 1998 with a 99-year lease from the Federal government for $65 million.
And with the Sunshine Coast’s international airport development under way, Snow describes the Sunshine coast region as “an exciting growth area” in Australia.
“It will drive growth in the many industries that are expanding on the coast,” he said.
“When you couple that with the climate and the scale of Stockland’s vision, this is a long-term project that we are very excited to support.”
Steinert said partnerships like this would strengthen its balance sheet, and free up capital to invest in other counter-cyclical deals.
“Including our workplace and logistics development pipeline and additional residential community acquisitions,” he said.
While profit related to this transaction will be recognised in financial year 2020, the ASX-listed company is scheduled to release its full year results in August.
Article courtesy The Urban Developer 4th July 2019
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