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Gay Group back in control at Links

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					                                                        Gold Coast Bulletin
                                                        03/07/2009
                                                        Page: 46
                                                        Real Estate
                                                        Region: Gold Coast QLD
                                                        Circulation: 41121
                                                        Type: Regional
                                                        Size: 237.63 sq.cms
                                                        Frequency: MTWTF--



               Gay Group back in control at Links
               MACQUARIE Bank and Urban                and said `buying back the farm' had      location within the development
               Pacific have quit a $450 million        special significance to his company      because they feel the same way
               canal land development, selling         and family.                              about the area as we do," he said.
               out to joint-venture partners.             "The River Links site has been in        "Like us, many believe in the
                  The Gay Group of companies           my family for over 20 years and          potential of the River Links
               and partner Leighton Contractors
                                                       when we purchased the land we            location, situated on the Coomera
                                                       always had an amazing vision for the     River with direct access to the sea-
               will assume control of the nearly       project - seeing it through to the end   way and alongside the Pacific
               finished River Links residential        is important to us," he said.            Motorway.
                estate at Helensvale.                      "We were excited about the joint        "It is the only residential devel-
                   Patrick Gay, chairman of the        venture with Macquarie and Urban         opment in Queensland with both
                Gay Group of Companies, said he        Pacific when we started River Links      access points."
               would happily work with Macquarie       with them a decade ago, but the split       Mr Gay said Leighton Contrac-
                in the future, but at present          is the best outcome for the success-     tors and the Gay Group were dedi-
                Macquarie was keen to consolidate      ful completion of the project and its    cated to future developments
                and move on to other projects.         current and future residents."           together, which include the new
                   He said the Gay Group and               The 74ha development recently        Gold Coast Marine development on
               Leighton Contractors were passion-      won the best residential subdivision     the The Spit.
               ate about the 500-lot canal-frontage    at the 2009 UDIA awards.                    "Despite the economy, we
               subdivision and the sale of its final       Mr Gay said interest in the latest   expect to complete the project on
               43 waterfront lots.                     release had given the companies the      the high note we started on and
                  Mr Gay started the progressive       opportunity to complete the project.     recent sales in the area indicate that
               amalgamation of the dairy farm site         "We have families who have pur-      indeed we will," he said.
               on the Coomera River in 1988 and        chased several times in the precinct        The Gay Group also developed
                completed the purchase in 1998,        and upgraded each time to a better       Aquatic Paradise on Moreton Bay.




               The 74ha River Links residential development at Helensvale




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Description: Gay Group back in control at Links