Highfields Site Sells for $15m as Toowoomba Growth Surges
A major residential landholding in the fast-growing Highfields corridor north of Toowoomba has changed hands for $15.15 million as new housing projects gather momentum across the region.
The 11.04ha infill site on Alexander Avenue, approved for a 105-lot residential subdivision, was acquired by a South-East Queensland developer in an off-market deal brokered by JLL agents Liam Petersen and Jake Burrowes.
The transaction achieved about $1.37 million per hectare, equating to roughly $144,286 per approved lot.
Highfields is 12km north of the Toowoomba city centre and 125km north-west of Brisbane.
The sale comes as construction begins on a major over-50s lifestyle development nearby with
GemLife has started work on its $179-million GemLife Cotswold Hills community at nearby Cotswold Hills.
The project will deliver 205 land lease homes aimed at buyers looking to downsize into lower-maintenance housing while retaining larger homesites and access to resort-style facilities.
The community will include about $15 million in shared facilities and is expected to support about 125 jobs during construction over the next four years.
Homesites will average about 351sq m, around 20 per cent larger than typical land lease community lots, according to GemLife.
The company also plans a second nearby lifestyle development, GemLife Cotswold Rise, a $138-million project expected to deliver a further 211 homes.
Further communities are planned at Highfields, where GemLife Highfields and Highfields Heights would add another 682 homes.
JLL’s Petersen said development-ready sites in established growth corridors continued to attract strong interest from developers seeking scale and certainty of delivery.
He said the Alexander Avenue property’s cleared and serviced footprint allowed the incoming purchaser to progress quickly toward construction.
Burrowes said approved infill opportunities were drawing heightened competition from developers targeting locations experiencing sustained population growth.
Highfields has recorded close to 20 per cent annual house price growth, with median values now exceeding $1 million as demand for new housing continues to build across the corridor.
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