2443 Beaudesert Nerang Rd, Canungra
A project touted as a solution to southeast Queensland’s housing shortage is up in the air, with the sprawling site approved for 120 new homes back on the market.
The 124.25ha parcel at Canungra, near the Gold Coast, was acquired by Brisbane-based Paul Thynne, of Melthorn Property Developers, for $9.8 million in February 2022.
Development approval for 121 residential lots comprising the Canungra Meadows estate was received in May this year, but the site at 2443 Beaudesert Nerang Rd is now up for sale via an expressions of interest campaign.
The land parcel for sale
It is marketed by Colliers Queensland residential development site agents Brendan Hogan, Adam Rubie and Nic Mullis.
Mr Hogan said around 900,000 new homes were required to meet the government’s current population forecast for southeast Queensland, which is expected to swell from 3.8m to 6m by 2046 — an increase of 2.2m people over 25 years.
Canungra Meadows was a significant opportunity to develop an approved residential estate within a tightly held region, he said.
The Canungra Meadows site has development approval for 121 residential lots
“On the back of various Government stimulus packages, there has been a strong focus on groups delivering projects to fulfill housing demand, and trying to re-stock their pipeline.
“This has resulted in a surge of demand for development opportunities. However, this demand has not been met with supply of land stock,” Mr Hogan said.
The low-density residential zoned portion of the Canungra site was predominantly cleared and “shovel-ready”, while the 100ha remaining parcel could become a tourism development such as eco cabins or a sustainable restaurant, subject to council approval.
It is located in the Scenic Rim region between the Gold Coast and Brisbane
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Mr Rubie said: “Canungra Meadows is a truly unique land holding, providing scale in a market where there is immense scarcity of residential development sites.”
It coems to market as as the state grapples with a scarcity of housing supply on the back of higher-than-anticipated population growth, with net interstate migration adding around 55,000 new residents during the peak of the pandemic, compared to only 20,000 in previous years.
“As a result, the delivery of new land supply has lagged behind population growth,” Mr Rubie said.
There’s an established township
Located in the Scenic Rim region between the Gold Coast and Brisbane, Canungra has an established town centre, educational facilities and lifestyle amenities.
Mr Mullis said the revised Urban Footprint outlined by Draft Shaping SEQ did not include any new land designated for residential uses within the Scenic Rim, Gold Coast or Logan local government areas.
“Given the lack of developable land within the greater Gold Coast region, Canungra Meadows is a rare opportunity in a tightly held township,” Mr Mullis said.
Canungra Hotel
“Canungra is a delightful township, with notable features including the Canungra State School, The Outpost Café, Canungra Hotel, Aquis Farm equestrian facilities Canungra Showgrounds and the Gateway to Lamington National Park.
“The location provides a quiet, leafy and highly sought-after setting with scenic views for end buyers.”
A number of the approved lots will have direct park frontage with views of Canungra Creek, while the blank 100ha parcel looks out over the valley.
Expressions of interest close September 6.
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