Honeycombes takes $100m leap in 2013

Queensland developer Honeycombes Property Group has launched into the New Year, set to embark on more than $100 million in residential and commercial projects in Townsville and Mackay.It continues the momentum of 2012 for Honeycombes - one of the state’s largest and most established private developers - which has found a happy hunting ground in regional Queensland with more than $200 million in apartments brought to market since 2008.Managing director Peter Honeycombe said the group was tapping into ongoing demand generated by Townsville’s diverse economy as well as the ever-rising need for housing in areas servicing the resources boom.Mr Honeycombe said the group’s development schedule in 2013 demonstrated its commitment to and confidence in regional Queensland.“We enter 2013 with an active workbook that will meet strong market demand in these areas while also creating more employment for the construction industry,” he said.“Our ongoing development push is underpinned by regional Queensland’s strong economic fundamentals which show no sign of abating.“And because of this we expect to be rolling out projects for years to come.”The developer’s expansive portfolio of shovel -ready projects in 2013 include its debut in Mackay with two residential projects - $26 million Carlyle Apartments and $25 million Pacific Sands Apartments.Carlyle will have 59 units in a six-level building that will rise on a site between Mackay’s growing CBD and its waterfront, while nine-level Pacific Sands will boast 56 apartments on The Esplanade at East Mackay.In Townsville, Honeycombes is embarking on two projects within its flagship $450 million Central development, an inner city village blending apartments, offices, cafes, shops, dining and entertainment venues.Ground will be broken on the $18 million Central Village cinema hub while construction is set to start on the $17 million Paddington Apartments comprising 44 units, 39 of which have sold.Still at Central, work is under way on the $10 million NQN House, a three-level state-of-the-art commercial facility which kicked off late last year and will be the corporate headquarters for North Queensland Newspapers.Mr Honeycombe said the three latest projects at Central would continue the transformation of Townsville’s old rail yards into a vibrant urban village where people can live, work and play.“The Central masterplan is coming to life as we continue to reach developmental milestones here,” he said.Nearby at Thuringowa Central, Honeycombes has started construction on the first of the next two stages of its $145 million Riverway Residential development on the banks of the Ross River.Known as Jacana I and Jacana II, the projects are worth a combined $26 million and will deliver another 69 apartments to the lifestyle precinct.Elsewhere in Townsville, the developer has started work on the $2 million first stage of its commercial project Northside Square convenience centre at Deeragun.On completion the $33 million project will deliver close to 11,000sqm of commercial and retail space to the city’s fast growing northern beaches region.Honeycombes has an impressive portfolio of past projects stretching from Cairns and Townsville to Brisbane and Hervey Bay.They include the $172 million Cairns Harbour Lights - a mixed-use luxury development on a landmark waterfront site – and the $126 million Oxygen residential and retail project at Spring Hill in Brisbane’s inner city.