The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 THE UNMISSABLE EVENT FOR PROPERTY PROFESSIONALS IN THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 UNMISSABLE FOR PROPERTY PROFESSIONALS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
15
print
Print
ResidentialLindsay SaundersThu 18 May 23

Billionaire Pays $177m in Record Gold Coast Land Sale

A billionaire and his son have put their foot on reportedly Queensland’s largest residential development site sold in 20 years, paying $177 million.

Property developer Bob Ell (pictured below) and son Robert’s Leda Holdings are planning around 4000 homes for the 161ha Coomera Quarter parcel at 49 Cunningham Drive; 51 and 70 George Alexander Way, Coomera, in the northern Gold Coast.

It is believed to have been the biggest land sale in the history of the Gold Coast.

The sale was handled by JLL Metropolitan and Regional Land on behalf of the vendors.

According to Corelogic, the land was previously held by Coomera Resort Pty Ltd.

ASIC records its directors as Makaaki Ikeda, Motoaki Omura and Chisako Sako; while its shares are held by Omura, Hokojitsugyo Company Ltd and Coomera Town Centre Management Pty Ltd.

JLL senior executive Jake Burrowes said the deal came after “a highly competitive, off-market expressions of interest campaign which generated strong interest both domestically and internationally resulting in 13 bids at the close with a collective value of $2 billion”.

1 of 2


“The site was ultimately acquired via an unconditional offer of $177,000,000. The campaign and result are a testament to the strong fundamentals that underpin the continued long-term growth of south-east Queensland and highlights the severe undersupply of suitably zoned, serviceable land in the broader region,” he said.

The infill site carries approval to deliver a masterplanned community, including five neighbourhood centres and 4200 homes comprised of a mix of house and land, townhouses and apartments close to the site of two future hospitals as well as the Coomera Town Centre.

Burrowes said the “landmark” transaction now gave Leda the potential to deliver a total of 16,000 homes “across the heavily undersupplied Gold Coast region”.

Leda already has residential developments in train at Kings Forest and Cobaki Lakes, both on the Tweed Coast in northern NSW.

Bob Ell founded property development business Leda Group in 1976. It floated on the ASX in the late 1980s and was privatised in 1990. In last year’s AFR Rich List, Ell was reportedly worth $2.42 billion.

ResidentialAustraliaGold CoastReal EstateDeal
AUTHOR
Lindsay Saunders
The Urban Developer - News Editor
More articles by this author
linkedin icon
ADVERTISEMENT
TOP STORIES
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
Exclusive

Sydney’s Fear of Heights Holding Back Housing

Vanessa Croll
6 Min
North Melbourne Craigieburn HB Land EDM
Exclusive

Tribunal Finding Cruels 1000-Home Melbourne Plan

Clare Burnett
5 Min
Roseville Hycorp EDM
Exclusive

Ku-ring-gai TOD Backflip Slashes 1500 Homes from Under-Way Developments

Clare Burnett
7 Min
Exclusive

Housing Fix Sprint Begins with New Top Planner Pushing 13 Regional Plans

Phil Bartsch
8 Min
View All >
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
Labrador Midrise Whiting Street DA hero
Residential

Labrador Scheme Joins Gold Coast Midrise Surge

Phil Bartsch
Indroo Verso 53 Coonan Street DA hero
Development

Tower Pitched as Brisbane’s Inner-West Regains Steam

Phil Bartsch
The proposal rising 20 storeys and comprising 119 units is part of a renewed vanguard pushing residential density to new…
LATEST
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
Labrador Midrise Whiting Street DA hero
Residential

Labrador Scheme Joins Gold Coast Midrise Surge

Phil Bartsch
2 Min
Indroo Verso 53 Coonan Street DA hero
Development

Tower Pitched as Brisbane’s Inner-West Regains Steam

Phil Bartsch
3 Min
Clarke Hopkins Clarke's rendering of the clubhouse for Levande's Highton seniors living project in Geelong.
Retirement & Aged Care

Seniors Living Plan Revealed for Former Geelong Van Park

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/bob-ell-coomera-land-sold-record-queensland