The balance of Brookview Estate at Glen Eden is for sale, after the developers behind the project went bust.
The balance of Brookview Estate at Glen Eden is for sale, after the developers behind the project went bust. Tegan Annett

$90m housing estate brought back from the brink

A "GREAT guy" has given new life to a stalled Glen Eden housing estate, providing relief and new opportunities for Gladstone's builders.

House-and-land package sales are ramping up again at Brookview Estate after the approximately $90million housing estate was put on the market when the company behind it collapsed.

In September, a Sydney developer became the new owner and developer of the estate, relaunching house and land package sales after an almost three-year construction hiatus.

Former owners Latitude Development Group once promised a "resort style" gated community, but in early-2016 the Gold Coast-based company was placed in the hands of receivers McGrathNicol.

Two GJ Gardner Homes sub-contractors have already broken ground at the estate with construction of two new homes under way and a third expected shortly.

Gladstone real estate agency Knight Frank is selling 13 house-and-land packages on lots ranging in size from 800sqm to 1000sqm for about $275,000.

Director Ron English said the first stage of the relaunched development at Brookview Estate included 23 lots.

He said the second stage, which was once tipped to include more than 63 lots, had been drawn back to about 40 larger blocks instead.

 

The balance of Brookview Estate is for sale after the developers behind the project went bust.
The balance of Brookview Estate is for sale after the developers behind the project went bust.

Mr English said the housing construction within Brookview Estate would be exclusive to Gladstone building companies who have recently struggled through a slump in housing development.

"There are no invites for companies outside of Gladstone for this... I'm very focused on helping those who are in Gladstone," he said.

For GJ Gardener Homes owners Scott and Kim Underwood, the opportunity to be one of the preferred builders for Brookview Estate was one not to give up.

Also involved are Absolute Homes, Tenheggeler Homes, Chris Irwin Homes and Dixon Homes.

"(This work) keeps our tradies happy until Christmas and we want this momentum to keep on going," Mrs Underwood said.

"It's not all doom and gloom... across the board we've seen improvements across Gladstone recently."

Mr English - not willing to reveal who the estate buyer is - said the developer is familiar with Gladstone because he also owns the Chapple St business park.

Knight Frank has sold 12 of the Chapple St blocks in six months and there are five remaining.

"He's very familiar with the area and regional towns," he said.

"He's a great guy... it's in the right hands."

The positive and optimistic Mrs Underwood said while the six-year-old business has had a "hard year", they remained steady with work.

She said the Brookview Estate packages offered a great opportunity for first-home buyers.

The relaunch of construction in the area was welcomed by Brookview Estate tenant Stef McGuire.

She said the residents' club, which includes an in-ground swimming pool and barbecue area, was a major drawcard for Ms McGuire to rent a four-bedroom home with her two children at the estate.