Gracemere destined to boom

Norfield Land director and Chatterton Park developer Wayne Land looks over the site of a townhouse development at Gracemere.

MEGAN LEWIS

AS he launches the first phase of a new multi-million townhouse project in Gracemere, a property developer said the town was destined to become a major community as Queensland booms.

Wayne Land, a director of Norfield Land, said the town’s future looked bright as Central Queensland’s mining and LNG projects came on line.

Mr Land said his development was helping change the face of Gracemere with the start of the $4 million first stage of a major townhouse project known as LillyPilly Gardens, on the corner of Chatterton Boulevard and LillyPilly Avenue in Gracemere.

He said Chatterton Park was a planned community estate in Gracemere, with a range of affordable mixed-housing styles within a family community environment.

His investors were committed for the long-term in Rockhampton and the Central Queensland region and Mr Land pointed to the economic growth drivers from the coal and gas industries at the Bowen and Surat basins as well as the exciting LNG plants as evidence that the best years for Queensland were yet to come.

He said his investment company was now looking for additional land tracts and development opportunities in the area. “Gracemere is destined to become a major and very significant satellite community,” Mr Land said.

He said Australian Property Monitors had just released a report forecasting a growth in Gracemere’s residential property values to more than 200% of current values in the next five years, and more than 300% within 10 years.

Despite his optimism, Mr Land said he remained disappointed that the shopping centre project had not yet started, as this was “a critical infrastructure component long-overdue for Gracemere”.

LillyPilly Gardens offers three-bedroom, two-bathroom townhouses with prices starting at $275,000.

For more information, check out www.chattertonpark.com.au