New player eyes off Ripley area
PRIVATE residential developer Satterley has moved in on Ipswich's growth boom, acquiring 63ha of land at Ripley.
The developer - which refers to itself as Australia's largest for private residential estates - has plans for an 850-lot community that will include four precincts situated amongst landscaped parks and public open space.
Satterley operates in Western Australia, Victoria and Queensland, and has been behind more than 165 residential communities and sold more than 60,000 lots.
Chief executive Nigel Satterley said the acquisition was part of the company's long-term strategy to invest in south-east Queensland.
"We have had huge success in the Melbourne market and it's now the right time in the property cycle to expand and venture north into south-east Queensland," he said.
"Our company's acquisition strategy is sensible. We target growth corridors close to employment areas, transport links and shopping precincts. Our research tells us our buyers want to be well-connected and live the lifestyle they choose with nice landscaping and open spaces."
The first 70-lot stage has been released with some medium density housing options included.
Block sizes range from 400-514sq m.
"This community will be well-suited to first homebuyers, young families or locals wanting to upgrade," Mr Satterley said.
Land will start from $200,000 and house and land packages are expected to start from about $350,000.