Potter George Group buys $70m site for estate in Bonnie Brook
Potter George is fielding offers of more than $70m for a site at Broadbeach on the Gold Coast. Picture: Brendan Radke
Acquisitive developer the Potter George Group has paid about $70m for adjoining 12ha-plus sites in Melbourne’s booming northwest planning a major residential subdivision.
Potter George bought the Tarletons Rd sites on the western side of Caroline Springs in the fast-growing Bonnie Brook area, with plans for a $140m residential estate to be called Oaklands.
The twin 12.33ha sites were bought from local landowners with the Oaklands project to comprise 450 housing lots and 0.5ha of parkland opposite future wetlands and sports reserves, and near proposed primary and secondary schools.
Subject to council approval, the housing sites are expected to be released mid-next year, project manager Scott Payten said in a statement.
“We are anticipating very strong demand for Oaklands given its proximity to excellent lifestyle amenities and transport links,” Mr Payten said.
Potter George founder John Potter.
He said the project would follow hot on the heels of Potter George’s $55m Kerani Heights residential development in the adjacent suburb, where all 190 lots were now sold.
“This precinct has emerged as a premier residential location in Melbourne’s rapidly growing north west,” he said.
“Oaklands will have strong appeal with its affordable family friendly lots, being a short drive from Watergardens Shopping Centre and Central Shopping Centre both at Caroline Springs, schools and colleges, medical centres, national parks and public transport options.’’
Potter George Group’s $200m Trijena estate, located 33km from the Melbourne CBD near the townships of Craigieburn and Donnybrook, also continues to experience excellent sales with only 15 lots remaining.
Further north, on Queensland’s Gold Coast industry sources said Potter George founder John Potter was fielding offers of more than $70m for a site he amalgamated at Broadbeach on the Gold Coast.
Mr Potter, the former head of Villa World, spent six years amassing Gold Coast sites, and won approval to develop a $700m 68-level twin-tower complex in the heart of Broadbeach back in 2019.
He amalgamated 13 sites between 2001 and 2007 and has won approval for a 4½-star apartment-style hotel and residential units on a 3722sq m site opposite the Gold Coast Convention Centre on the Gold Coast Highway.
Kollosche is marketing the site.
