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Brisbane-based developers Keylin and Kinstone have acquired a major greenfield development site in Coomera’s emerging town centre precinct as the joint venture makes further significant investment into the Gold Coast.

The purchase of the 47.7ha site, known as Coomera Town Centre South, is the second major transaction undertaken by Keylin and Kinstone in the last 12 months, following the $50 million joint venture purchase of the Serenity 4212 estate at Helensvale which has emerged as one of the city’s most successful waterfront land estates.

The latest purchase, located at 64 Foxwell Road between Dreamworld and the Westfield Coomera shopping centre, will strategically position Keylin and Kinstone to play a major role in shaping one of Australia’s most active growth corridors.

In announcing the acquisition, Keylin managing director Louis Cheung said the purchase was part of the company’s ongoing investment into the northern Gold Coast.

“We are delighted to have successfully secured what we believe is one of the key sites on the northern Gold Coast which will allow us to play a significant role in the creation of the next stage of the Coomera Town Centre precinct,” said Mr Cheung.

“This is one of the area’s most strategically important sites that will shape the future of the urban heart of Coomera.”

Plans are currently underway for the Coomera site, which has been earmarked for decades as an integral component of a vibrant Coomera Town Centre.

Large areas of the site are provisioned for green space. A preliminary master plan comprises a combination of residential and commercial precincts, set to benefit residents in the nearby booming suburbs.

Keylin and Kinstone are award winning Brisbane-based companies with active projects throughout Southeast Queensland.

The acquisition marks a significant expansion of their property interests on the Gold Coast, where they are developing the $650 million Serenity 4212 luxury waterfront project at Helensvale.

Keylin has been a major player in the transformation of Hope Island over the last five years, with the emergence of new communities via its Palladium townhomes estate and Park Cove villas.