Property investment company CFMG Capital has acquired a 23.5-hectare site at 510 Bellmere Road for $19 million, expanding its holdings in the Waraba Priority Development Area and paving the way for a 1000-lot residential community.
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The Bellmere Road site was purchased from a local family and sits adjacent to CFMG’s existing land parcels in the area. The acquisition adds to the company’s earlier purchase of a 178.1-hectare site on Stern Road, which it bought for $50 million in early 2025. Combined, the sites bring CFMG’s total investment in Waraba to more than $100 million.
The Ambury development
The newly acquired Bellmere Road property will form part of Ambury, a masterplanned community now spanning more than 200 hectares. The development is scheduled for launch later in 2026 and will deliver approximately 1000 residential lots over the coming years.
In a LinkedIn post announcing the acquisition, CFMG Capital stated the purchase “takes our total pipeline in the Waraba Priority Development Area to more than 1,700 lots across two projects, with a combined end value of over $700 million.”
Ambury sits within the Waraba Priority Development Area, formerly known as Caboolture West. The 2900-hectare PDA was declared in August 2024 by Economic Development Queensland, with development applications to be assessed by Moreton Bay Council.
Waraba is a 3480-hectare major expansion area within the Shaping SEQ Regional Plan. The broader PDA is expected to ultimately provide land for around 30,000 dwellings and accommodate approximately 70,000 residents over the next 40 years.
The development area is positioned between Brisbane and the Sunshine Coast, placing it within reach of both centres.
Infrastructure and facilities
Residents of the future Ambury community will have access to existing local infrastructure. Bellmere State School and Bellmere Early Education Centre are located three kilometres from the site.
Morayfield Shopping Centre, Caboolture Square and East Caboolture Village are all within six kilometres of the development, along with various recreational facilities. Caboolture Hospital is situated approximately 9.2 kilometres to the east.
Developer’s regional expansion
CFMG general manager Andrew Thomson noted that Brisbane’s growth has historically been concentrated in the Logan and Ipswich areas, but indicated the northern corridor is expected to see increased development over the next decade.
Thomson pointed to the region’s existing infrastructure and its accessibility to both Brisbane and the Sunshine Coast as factors in the area’s development potential.
The company stated it has already invested $100 million in the region and expects to invest at least that amount again over the next decade as it develops Ambury and its other project in the area, Bells Pocket.
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With this acquisition, CFMG’s portfolio now includes more than 3000 lots in the pipeline across Queensland and Victoria. The company’s projects include Millwood Rise (Nambour), Farriers Creek (Burpengary), Arbourwood (Morayfield), Sovereign Estates (Rochedale), Riverleigh (Logan Reserve), Mayfair Lane (II) (Rochedale), Park Lane (Rochedale) and Bellmere (Waraba).
The Waraba Priority Development Area continues to take shape as one of South-East Queensland’s designated growth corridors.
Published 28-January-2026
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