Property development and investments firm Oreana has announced its acquisition of North Shore, Townsville’s premier masterplanned community, from Stockland [ASX:SGP].

North Shore is Oreana’s first acquisition in regional Queensland and follows the July 2024 purchase of a 250-lot site in Brisbane’s Morayfield.

Spanning over 900 hectares, North Shore will feature approximately 5600 homes, a large town centre, state and private schools, extensive parkland, childcare and much more when completed.

To date approximately 2600 lots have been delivered along with a school and key retail outlets including Bunnings, Woolworths, North Shore Tavern and services including a medical centre, service stations, gyms, a church, childcare centres and public swimming pool.

Oreana will continue to deliver the masterplan, acquiring approximately 160 hectares of net developable residential land as well as the balance of the town centre, which has space to double its existing footprint.

Oreana Managing Director Tony Sass said the company was focused on investing in regions with strong population and economic growth.

“Oreana is delighted to add to its portfolio the premier masterplanned community Stockland has curated and delivered at North Shore.”

“Queensland represents an exciting frontier for Oreana as we continue to expand into one of Australia’s fastest-growing regions. This move aligns perfectly with our strategy to invest in areas where we can deliver long-term value and create thriving communities,” he said.

“The acquisition of North Shore demonstrates our appetite for larger, transformative projects that create significant opportunities for our business and stakeholders.”

Mr Sass said there had been steady investment in Oreana’s capabilities over the past 18 months to support the national scaling of its activities, including the establishment of a Queensland team. The firm has also secured key talent with industry stalwart Ken Munro – formerly of Development Victoria – as General Manager, and Luke Guthrie as Chief Financial Officer, and has integrated its highly successful investment arm under the leadership of Luke Moore, enabling it to offer a range of investment funds to private clients.

“Our consistent investment in building capability and expertise ensures we are equipped to seize opportunities like this. It’s a reflection of Oreana’s commitment to sustainable growth and our confidence in the strength of the Australian property market,” Mr Sass said.

Stockland has a long and proud history in Townsville.

Stockland‘s General Manager Queensland Development, David Laner, said: “North Shore has grown to become an established community for residents to live, work and shop, and continues to deliver much-needed housing for the people of Townsville.

“We’re grateful for the support of Government, and all of the hard work of our staff, contractors and residents in creating a connected, thriving community at North Shore and we’re proud of our role in bringing the vision to life and the legacy we are leaving.

“Oreana’s investment in North Shore is testament to that vision and its commitment to the continuing development of the region,” Mr Laner said.