FCL's Aussie unit buys 135ha site in Queensland

Singapore

REAL estate developer Frasers Centrepoint Ltd's (FCL) Australian unit has bought a 135 hectare site in south-east Queensland that has an "end value of S$270 million", the group said in a Singapore Exchange filing on Thursday.

Frasers Property Australia acquired the site at Bahrs Scrub, halfway between Brisbane and the Gold Coast, from Australian property group Stockland with planning approval and an infrastructure agreement in place for the core land, FCL said. The masterplan provides for 1,350 detached housing lots.