Billionaire Maha Sinnathamby Puts Large Springfield Property on the Market

Billionaire property developer Maha Sinnathamby is selling a 12.7 hectare mixed-use development site in the Greater Springfield area, located 25 km southwest of Brisbane.

Founder of the Springfield City Group, Sinnathamby aims to “inject a new wave of activity” into the already rapidly growing region with this offering.

Maha Sinnathamby, visionary property developer

Maha Sinnathamby has been developing the Greater Springfield area for over 30 years. His company wants to maintain the momentum of growth in the region through the sale of this site.

The Greater Springfield area has already benefited from $18 billion worth of investment in infrastructure projects. This includes the $1.2 billion Springfield rail network, the $80 million Brighton Homes Arena, and the $85 million Mater Hospital.

High retail demand in region

The site, known as City West, has initial approvals in place for a variety of uses including retail, commercial offices, entertainment, leisure and medium density residential.

According to Colliers agent Lachlan MacGillivray, new retail floorspace in the region needs to grow by 2.2 million square metres over the next decade to meet the demands of population growth. Hence, sites like City West are becoming critical as demand outweighs supply.

The City West site is being marketed through an expressions of interest campaign by Colliers and Stonebridge Property. The campaign closes on March 15.

Published 29-February-2024