Frasers Acquire Keperra quarry for new Masterplanned Community
In a significant boost to its residential pipeline, Frasers Property Australia has settled the acquisition of a major Brisbane infill site at Keperra, nine kilometres north west of the CBD, for A$31 million.
The 48.7 hectare site is one of the largest to be marketed in Brisbane in recent times and, following an extensive community engagement program, is provisionally approved for the development of a masterplanned residential community with up to 700 homes and approximately 60 per cent open green space.
Scott Ullman, General Manager – Residential Queensland, Frasers Property Australia says the site, currently a quarry, is one of the most elevated areas of land in Brisbane, ranging from 80 to 190 metres above sea level. “The design for the masterplanned community is still being refined however most of the residential dwellings will be built between 100 and 145 metres above sea level, creating some spectacular views to the Glasshouse Mountains,” says Mr Ullman.
“The elevation is a real point of difference for this site, enabling us to apply our design and development expertise to maximise the natural advantages of being so high up.
“The significant scale of the Keperra site less than 10 kilometres from the Brisbane CBD presents an outstanding opportunity to create an urban environment that provides its residents with a convenient and connected lifestyle, a stunning outdoor environment and a commanding outlook.
“The existing preliminary approval is for up to 700 residential dwellings and parks and conservation areas and development applications have been lodged for a 7,000sqm neighbourhood retail and childcare centre,” he says.
Mr Ullman says the new community will offer people choice with a combination of detached, low density and medium density terrace homes.
“In a substantial commitment to revegetating the Keperra hillside, more than half of the site will be open space, comprising conservation land and stabilisation and rehabilitation of the quarried hillside. The remainder will be developed as residential, retail, roads and infrastructure,” Mr Ullman says.
“Our focus now is to refine the masterplan design for the new community, working toward an expected launch in 2021. We are excited by the opportunity to transform this site into a truly unique residential community that will be a positive outcome for Keperra and Brisbane.”
Colliers marketed the site as part of the EOI campaign which generated over 140 enquiries.