As announced in February, the developers are selling their interests as part of a strategic realignment.
The campaign will be via a public Expression of Interest campaign commencing in August.
The property is contained in an approximate 297ha site located just 30 minutes from the Gold Coast, has direct access to the Pacific Motorway M1 and planning approval for 3,500 dwellings of which 322 lots have been completed and settled.
SkyRidge has its own planning code with flexibility and includes provision for small lot residential, traditional home sites through to medium rise apartment development and non-residential uses such as a neighbourhood retail centre, food and beverage opportunities, retirement and other commercial uses.
Significant investment has been made into infrastructure and amenity with the development interests being sold as a going concern with production underway on the next 200 lots.
Mark Creevey, Director at RWSP, said it was it impossible to replace the estate as a development holding of this size in the Gold Coast doesn’t exist.
“With all current planning approvals in place and all EPBC matters in hand there is little approval risk in developing the project which has a life span of a further 10 years,” he said.
"This is truly a once-in-a-generation opportunity to acquire the developer interests in a project of this scale, prestige, and strategic significance.
“SkyRidge is unmatched in terms of size and location; it is simply irreplaceable.
“The Gold Coast continues to face major undersupply in residential land and SkyRidge is uniquely placed to meet that demand, and its scale allows for delivery flexibility and long-term value creation.”
With panoramic views over the iconic Gold Coast skyline and the Pacific Ocean, SkyRidge is becoming one of the most desirable residential communities in the country. Recently, traditional lots with coastal views went under contract for in excess of $1 million.
The development offers a rare combination of natural beauty, planning certainty, and delivery momentum, underpinned by its positioning in Australia’s most supply-constrained housing market.
Managing Director of B&S Land, Frank Nagle, said SkyRidge is a project that has been 20 years in the making and a credit to the current developers and their team for what they have created.
“Queensland is the state to be now with all our major land clients buying here over the last 5 years, and with Victoria struggling and other states tapering off, this opportunity is perfectly positioned to create a lot of competition from Tier 1 and Tier 2 operators and Capital Partners,” he said.
“The collaboration between the Ray White Special Projects and B&S Land teams brings together deep experience and proven results in transacting large-scale residential land assets.
“Very rarely does something of this magnitude and size come to market, and we expect significant national and offshore interest.”
The Development Interests being offered for sale are entirely separate from ownership of the land on which the SkyRidge Estate is being developed. While Pacific View Farm (Queensland) Pty Ltd owns a small parcel of the subject land, the vast majority is owned by a deceased estate with a Court appointed Administrator, Mr Robert Hutson of KordaMentha acting on behalf of the beneficiaries. The Owner Interests in the Estate and underlying land are not a part of the developer sale process.
