SIG Group creating common parkland around homes in its Bandicoot Park project interstate.

A 42-hectare site that’s just changed hands is set to house 600 new homes upon completion in one of the fastest growing areas of Greater Brisbane.

SIG Group – which is expanding its portfolio in Queensland after strong success in Victorian residential developments – has bought a 42ha Ripley site to tap into Ipswich’s population boom.

A company statement said the Group planned to bring another 600 homes to market in the booming corridor, as part of a future masterplanned community with residential land lots and terrace homes, as well as medium density dwellings, parks and green open space.

SIG Group has a project in Benobble Heights, Scenic Rim in Qld.

Located 40 minutes from Brisbane and 15 from Springfield, the site is next to Ripley Town Centre, SIG Group director Hugh Lu said.

“We’re excited to take over this remarkable parcel of land from Sekisui House Australia which will play a pivotal role in the core Ripley community and bring momentum and a united plan for growth.”

RPM Group Qld joint managing directors Clinton Trezise and Peter Neale advised SIG Group during the acquisition – and will now handle sales for the future residential project.

SIG Group representatives at their Harlow project interstate during groundbreaking.

Mr Trezise said “buyers in South East Queensland are sophisticated enough to understand the potential of investing close to a developing Town Centre”.

“Ripley is a fast-growing area in Queensland; this new development will provide an opportunity to cater to this growth and shape a lively community that benefits from its location, affordability and lifestyle.”

“This will be achieved by tapping into proposed key future amenities such as private commercial office space, a hospital, aged care facilities, a premium hotel and an underground train station on the doorstep. With Sekisui House Australia in the development planning phase for Stage 2 of Ripley Town Centre, the construction of new retail and commercial spaces anticipated to open in 2025 will ensure residents benefit from entering into a well-established region with ease.”

This article was originally published on realestate.com.au.