Sekisui House grows $2.3 billion development pipeline in Queensland

Sekisui House, one of the world’s largest residential developers, is set to ramp up its Queensland activities with the launch of a $2.3 billion development pipeline of projects in coming weeks.The company has announced construction will start this week on the long-awaited Ripley Town Centre west of Brisbane – a $1.5 billion investment that will service some 120,000 newcomers to the region over the coming 20 years.Simultaneously, Sekisui House is set to launch its exciting $800 million West Village mixed-use project which is set to transform central West End in the heart of Brisbane.The accelerated activity into Queensland is the culmination of more than five years of planning on a Queensland development pipeline worth an estimated $3.7 billion and which includes the proposed $900 million Yaroomba Beach development on the Sunshine Coast. Yaroomba Beach is set to become a new coastal village featuring a new five-star international Westin Coolum Resort & Spa, the first 5-star hotel in almost 30 years on the Sunshine Coast.“We have a robust view of the Queensland marketplace in the long term,” said Sekisui House Australia CEO and Managing Director Toru Abe.“The launch of the Ecco Ripley Town Centre and West Village concurrently represents our ongoing commitment to delivering world class and state of the art facilities in Southeast Queensland over the next decade.”The company, which has made its mark in the national market through developments such as the $2 billion Central Park urban village under way in Sydney, has stepped up its development program in Queensland’s southeast which has been buoyed by strong price growth in recent years.Sekisui House currently has more than $10 billion in projects either planned or under way in Australia.“Sekisui House is making a significant investment in southeast Queensland, a region that we believe holds great potential,” said Mr Abe.“Our plans are focused on delivering outcomes that are very much tied to our long-term commitment to each of the markets in which we operate.“Sekisui House is renowned as a developer of sustainable communities and this is evident across all of our projects, including Ecco Ripley which in 2015 was awarded a five-star Green Star rating.“These are communities that will stand the test of time, which is integral to our broader long-term vision for Australia.”Sekisui House has built more than two million homes since the company was established in 1960.  The firm’s corporate philosophy, which underpins all its global operations, centres on creating homes and communities that improve with time and last for generations.West Village is a masterplanned community that will create a new green heart in the bustling urban landscape of West End. It will comprise a combination of built residential products, including apartments, townhouses and penthouses, along with shaded laneways and public green space.West Village, designed by award-winning architects Hayball, will blend modern architecture with heritage buildings on the site that was once an industrial landmark housing the Peters ice-cream factory.“West Village is a project that will add amenity to the local community through laneways that will house galleries, boutiques and restaurants and public spaces that people can enjoy,” said Mr Abe.“As with all our developments, the heritage of the site plays a large role in the design process. We believe there is a lot to be learned and gained from appreciating the history of the areas in which we build.“West Village, along with all of our Queensland projects, are developments of scale that will benefit generations to come. They are the hallmark of the Sekisui House design philosophy and the foundation of our long-term commitment to the Australian market.“Ripley Town Centre is a milestone project that will be a catalyst for continued growth of the region.The scale of this project is comparable to Springfield and Northlakes, both of which have been pivotal in improving capital values and building strong communities with their own unique identity.”It is also planned to become a major transport hub for the Ripley Valley region. Ripley Town Centre has provision for a proposed rail loop connection with Springfield and Ipswich to service the region as it grows.Sekisui House has just launched the $40 million first stage construction of Ripley Town Centre, comprising a marketplace-style centre totalling 9,400 sqm, anchored by a 3800sqm Coles supermarket and supported by 20 specialty stores, a medical precinct, commercial office space and community centre.The development comes as the population of Ipswich hit 200,000 in January, with the latest Australian Bureau of Statistics figures showing the city’s population grew approximately 3.5 per cent in the past year, or more than double the national average of 1.4 per cent.Sekisui House is also progressing plans for the $900 million Yaroomba Beach development on the Sunshine Coast.The developer last year announced it had secured luxury hotel group, Marriott International, as operator of the five-star Westin Coolum Resort and Spa planned for the project.Yaroomba Beach is planned to create a new coastal village community that will be supported by retail and dining facilities and public spaces.“Each of these projects has their own character, designed in collaboration with some of the finest architects in Australia to become active living spaces that will stand the test of time,” said Mr Abe.“Sekisui House has established a strong Queensland portfolio that we believe builds on the foundations of our long-term commitment to the Australian market.”Sekisui House has been listed on the Tokyo Stock Exchange and the Osaka Securities Exchange since 1970. In January, the company’s market capitalisation stood at approximately $A15.4 billion.