Land & CommunitiesClare BurnettTue 13 Oct 26
Fairland’s $22m Bet on Morayfield Signals Bigger Play for Moreton Bay
Developed Fairland has paid $22 million for a 6ha Morayfield site as it expands around its 1000-home Summerstone estate, betting on further growth in Moreton Bay.
The developer's new site at 2-22 and 34 Bridges Road and 200-206 Hauton Road is subject to an ongoing development application for 98 homes. Fairland said it expects approval early next year.
The parcel was sold after an on-market campaign by JLL, achieving a rate of approximately $224,490 per lot and $417 per square metre. JLL said this established a new pricing benchmark for sites of comparable scale in the catchment.
The record-setting deal highlights Moreton Bay’s growth as a development area, described as one of Queensland’s “fastest-growing and most sought-after regions”.
The site is 3km from Fairland’s Summerstone community, which will comprises 1000 homes once complete. The developer has delivered eight developments of more than 2300 lots in Queensland since 2008.
Fairland director Harry Pickard said that “strong economic conditions, sustained housing demand and greater planning certainty” had underpinned the decision to buy the site.
“The response to Summerstone has been exceptional, with nearly two-thirds of allotments sold,” Pickard said.
“Queensland is a priority market for Fairland ... we [will be] announcing major investments in the near future and delivering more housing where it is needed most across the state.”
Fairland hopes to break ground on its this latest Morayfield project by early 2028.
JLL’s Jake Burrowes and Liam Petersen managed the sale. They said the site had attracted significant interest.
“The level of interest we received throughout this campaign was a clear signal that high-quality development sites in established growth corridors are becoming more competitive to secure,” Burrowes said.
Moreton Bay has just welcomed its first five-star hotel—Peppers Clear Mountain Lodge—after Accor repositioned its existing Mercure hotel on the site.
Also in Moreton Bay, at Redcliffe, Gardner Vaughan Group sold a penthouse apartment at its One Redcliffe development for $10 million, beating its own apartment record for the suburb.
