Land lease operator GemLife has purchased a portion of the derelict Terranora Lakes Country Club in the NSW Tweed region with the aim of building a new community.
The $41 million purchase, as reported by the Gold Coast Bulletin, gives GemLife 15 acres of land at the site of the old Bilambil Heights golf club and pokies venue – which shut down in 1996 – for a new 300-home development.
Adrian Puljich, CEO of GemLife (pictured), confirmed to The Weekly SOURCE that the deal had gone through, adding that the operator is also pushing ahead with its bid for a development at Cooroy on the Sunshine Coast.
“It’s a great site, we are very pleased with the deal. We still want to build a community at Cooroy and are taking the matter to the court.
“It has been a great year and there’s plenty to do,” he said.
GemLife last month bought a parcel of land on the Gold Coast previously flagged for high-rise apartments.
