DEVELOPER Ingles Group is set to build two childcare centres near its New Kaleentha Heights residential community after settling the purchase of a 2.5ha site on Harvey Road.
The Queensland-based developer paid $905,000 for the 2.5h property at 25 Harvey Road. The development site adjoins Ingles’ almost sold out New Kaleentha Heights project, a 77-lot estate on Sharyn Drive in the city’s New Auckland district.
Ingles Group managing director Graeme Ingles said the two childcare centres would be built on 3842sqm portion on the northern end of the site.
Each of the childcare centres will be built to accommodate 75 children and there will be parking for 33 cars. The childcare centre plan has already been given Gladstone City Council development approval
Ingles Group is now laying plans for the remainder of the site.
``We are a bit restricted on what can be built on the site because a lot of the land is below council flood levels,’’ said Mr Ingles.
The acquisition is the Ingles Group’s fifth major commercial purchase since the privately held developer announced in December that it was expanding into the commercial market.
The Surfers Paradise-headquartered developer has previously bought a 2024sqm development site in the Brisbane bayside suburb of Redland Bay for $1.6 million, snapped up a retail holding at Palm Beach, Gold Coast, for $830,000, an 1831sqm high-rise development site at 18 Remembrance Drive, Surfers Paradise for $6.5 million and the 4925sqm “Maudsland Village” shopping centre site at 148 Maudsland Road, Upper Coomera for $2.55 million.
Ingles Group, which is one of Australia’s largest privately owned residential developers, has also appointed former Lend Lease and QIDC commercial leasing executive Andrew Louey to head up its commercial leasing operations.
The Ingles Group has five major residential projects under way throughout Queensland at Gladstone, Gold Coast, Sunshine Coast and Ipswich. The company is also preparing for a 600-home masterplanned community in Victoria and has plans for two high-rise projects on the Gold Coast.
BACKGROUND
THE Ingles Group of companies has developed or has under development, projects worth in the vicinity of $1 billion. Falling under the umbrella of Ingles Group (Qld) Pty Ltd is Ingles Homes (Qld) Pty Ltd, which is a member of the Queensland Master Builders Association and Housing Industry Association and holds a BSA Gold Card.
In 2006 Ingles Group posted more than $60 million in sales, sold out of a 700-home community on the Gold Coast, almost sold out of another at Gladstone, and is now commencing a further three more residential estates.
For further information contact Sarah Hellewell on 0438 620 865 or sarah@barepublicity.com.au
