New Stockland communities boost Queensland economy

Stockland has started building three new communities in south east Queensland that will deliver a $12.25 billion boost to the state’s economy and almost 4,500 new local jobs.

The unprecedented burst of new construction activity is being led by Aura on the Sunshine Coast – Australia’s largest ever master-planned community under single ownership. Earthworks and new roadworks are now well advanced, with the first public land sales to pre-registered customers scheduled for this weekend.

The official sales launch of Aura will be closely followed by the launch of Stockland’s Newport waterfront and bayside community on the Redcliffe Peninsula, and then Pallara – a new residential community just 19 kilometres south of the Brisbane CBD.

Together the three communities will deliver an estimated 22,420 new homes in key growth corridors and provide future employment opportunities for approximately 43,500 people.

Newport and Pallara to be developed over the new few years, while Aura will be developed over the next 20 to 30 years to become a new, city-sized collection of residential villages, schools, business parks, retail and leisure precincts, sporting venues, green spaces and ecological zones.

Kingsley Andrew, Queensland General Manager at Stockland, said the consecutive activation and launches of Aura, Newport and Pallara represented a strong vote of confidence in Queensland by Australia’s largest diversified property developer.

Mr Andrew said the three new communities would take the number of active Stockland communities in Queensland to a record 16 projects.

He said modelling undertaken for Stockland by leading consultancy group Urbis identified the expected benefits of the projects in terms of the direct and indirect increase in employment and the total economic contribution.

“New communities of this scale not only produce immediate economic and employment benefits for the state by generating work in construction and associated trades, but provide an important multiplier effect within the local economy of each region, spreading prosperity and wealth creation through longer term, operational employment opportunities, leading to higher gross regional product,” he said.

Malcolm Aikman, Director of Economics and Market Research at Urbis, said the three Stockland projects would provide an immediate and welcome injection of jobs during construction, and long-term sustainable jobs for local communities.

“For example, the economic value of Pallara alone equates to around 55 per cent of the benefits of the Queensland Government’s 1 William Street office project,” Mr Aikman said.

“It represents a 10 per cent increase in the local employment base of the Pallara region and creates the equivalent direct ongoing jobs as three new state high schools or a 90-100 bed private hospital.”

Aura

Aura is a $5 billion ‘City of Colour’ south of Caloundra. Stockland reports strong and sustained interest and inquiries from potential buyers ahead of the first major land release this Saturday.

Earthworks are already underway on Aura’s first suburb, to be known as ‘Baringa’, while construction of the $115 million Bells Creek Arterial Road is also progressing well. On completion, Aura will include a vibrant city centre and retail hub, an exciting South Bank style urban parkland, an elite sporting and performance precinct, numerous schools and education centres, and two business and enterprise parks.

Newport

A new waterfront and bayside community on the Redcliffe Peninsula, Newport will offer a range of new housing options together with a village centre and a 23-hectare lake with navigable locks and high mast access to Moreton Bay. Located just a short drive from Stockland’s North Lakes and Stone Ridge Narangba communities, Newport is set to inject almost $1 billion of direct expenditure into the local region and the state over the next 10 years.

Pallara

Pallara is one of the last remaining consolidated land holdings of its size to be developed so close to Brisbane and will offer home buyers ready access to employment options, public transport, schools, shopping and health services. The community will have two local parks, conservation areas, walking and bicycle pathways and a neighbourhood centre with shopping and childcare facilities.

Source: Urbis, Stockland

*Measured by Value Added Expenditure during project development phase