A subsidiary of a Singapore-based property investor is planning to develop a residential house and lot community in Darra.
Huon Property Group, a subsidiary of Singapore developer RunningStream Group, announced plans to build the residential community after it completed the acquisition of a seven-hectare vacant residential site in Darra for $20 million.
The company intends to turn the site at 242 Englefield Road into a multi-staged residential community. The site is zoned for low to medium density residential development. Around 6.5 hectares is developable.
Good Potential
RunningStream Group has been engaged in property investment all over Australia for more than 10 years. The company considers Darra a valuable destination where it can develop significant projects that will benefit the local community.
The site is located just about 16 kilometres from Brisbane CBD, making it an attractive location for low and medium density residential development. This appears to be the more viable investment for the company as the market for apartment development weakens.
The location’s proximity to public transport, shopping places, schools and recreational facilities highlights the strong potential of the development project.
Location of the proposed development site.