Vote of confidence in CQ

Norman Emanouel says his plans are based on confidence in the Central Queensland economy and a prediction the housing market won’t be able to cope with demand in the near future.

ALLAN REINIKKA AR

THE managing director of a company behind a $50 million housing development at Gracemere said yesterday it was vital that the town’s proposed shopping complex was developed as quickly as possible.

Norman Emanouel’s Brisbane-based Oakshield Development has plans for 170 homes in Gracemere’s latest estate – Chatterton Park.

He says it will build 60 townhouses and 110 house and land packages, including the town’s first gated community complete with entertainment facilities, pool, community clubhouse and landscaped gardens.

The townhouses at Lilly Pilly Gardens go on sale on Saturday and building work is scheduled to begin in the next couple of weeks.

Mr Emanouel said he had studied Gracemere’s prospects for 18 months before committing to the huge investment. It was a massive vote of confidence in the Central Queensland economy, and its proposed industrial and mining developments, he said.

“This is the right time to invest in Gracemere. There is a significant need for new homes in the region, in fact I think there is going to be a huge shortage of properties in the near future, so this is the right time for people to buy,” he said.

“We are banking on strong growth in property demand and prices over the next 12 months,” he said.

“Our development of a fully integrated residential community, offering housing products not previously contemplated by developers in this area, should have a profound impact on the Gracemere and greater Rockhampton property market.”

On the subject of Gracemere’s long-awaited Shoppingworld development he said: “We would like to think the shopping complex goes ahead quickly because it is desperately needed.

“It’s a very important ingredient in the overall scheme of things. This is Rockhampton’s growth zone.”

Oakshield’s proposal is for three-bedroomed townhouses with prices starting at $270,000 and four-bedroomed houses in the range $355,000 to $385,000.

“People have been asking why build townhouses in Gracemere. Our answer to the sceptics is why not?” he said.

“Young people are moving from down south looking for work opportunities and the last thing they want to do is end up looking after a large block of land, lawns and extensive gardens.”