Property development group Sunland (ASX:SDG) has acquired a Gold Coast site for a planned $34 million townhouse project.
The site, at the new residential estate Pacific Pines, was purchased for $4 million. It has approval for 85 homes.
Sunland has already launched a sold-out townhouse development in Pacific Pines, and has acquired a separate 4 hectare site for a 95-dwelling development earlier this year.
The company said it would launch ten new property projects in the next twelve months, the majority of which will be in Queensland.