Kao Farm at Pimpama sells for $20.46 million amid a wave of inquiries for strategic site

An idyllic rural getaway at Pimpama has sold for $20.46 million to a Brisbane buyer following a wave of buyer inquiries and a competitive expressions of interest campaign conducted by Colliers.

The 63.9ha property, known as Kao Farm, was placed on the market early this year and drew inquiry from buyers looking to capitalise on the site’s strategic location in the Brisbane-Gold Coast growth corridor.

The campaign conducted by Steven King and Brendan Hogan, of Colliers, drew several formal expressions of interest from which the buyer was selected.

Kao Farm, located at 111 Creek Street in Pimpama, comprises six individual lots that together create a large-scale private lifestyle retreat that has been used by the owner for weekend getaways.

The property has been extensively upgraded to include all-weather driveways and paths, a full equestrian arena, fenced horse paddocks, a storage shed with residence and a caretaker’s cottage. The site is fully fenced with security entry at the main gate.

Kao Farm has approval for two more homes to be built, while all the lots benefit from single dwelling entitlements under council planning provisions. Hotham Creek runs through the property, and additional dams are located across the site.

Mr King, the Colliers Gold Coast Director in Charge, said the location and scale of the offering attracted significant interest from investors and developers, as well as buyers seeking lifestyle properties.

“With a property of this scale, which is very rare for Pimpama these days, many saw it as a future land-banking opportunity in one of Australia’s fastest-growing suburbs,” said Mr King.

“We also received a strong level of inquiry from buyers attracted to the lifestyle offering because of the site’s proximity to amenities and the convenient access south to Gold Coast beaches and north to Brisbane’s CBD. The owner has spent a great deal on improvements since acquiring the site in 2015 which has added to the appeal of the property.”