The Australian subsidiary of a global engineering firm has purchased the company behind the $1 billion Varsity Lakes Estate project in Queensland for an undisclosed sum.
Announcing the transaction on Monday, Meinhardt Australia CEO Peter Galvin says the acquisition of Gold Coast land development consultancy Bradlees Civil Consulting is in line with Meinhardt’s strategic plan in Australia, which has identified potential improvement and growth opportunities.
“This purchase brings clients and the Meinhardt business a number of benefits both nationally and regionally,” Galvin says. “It allows us to expand our geographic presence in Queensland. Client service will be further enhanced, with increased access to more people in more locations able to attend personally to projects across the state.”
Galvin added the transaction “gives our growing Land Development team a more national capability with an enhanced skillset and track record.”
Jason Murdoch, one of Bradlees’ current directors says the purchase represents an exciting opportunity for his firm, which will now be able to incorporate Meinhardt’s expanded suite of services into Bradlees’ existing offerings. New services available will include areas such as town planning, landscape architecture, building services and structural engineering.
Murdoch also stresses that things will be business as usual for existing clients. Bradlees will continue to trade under their current name.
Operating out of the Gold Coast since 1994, Bradlees operates primarily in South East Queensland and Regional Queensland across a range of land development disciplines including engineering input to conceptual planning, feasibility studies, engineering design of residential communities, canals, lakes, commercial developments, and urban infrastructure.
Its most significant project of late is the $1billion Varsity Lakes Estate, a residential, commercial and industrial development near Burleigh Heads.
The Varsity Lakes Estate project has included the detailed design and documentation of more than 200 allotments, commercial subdivisions, commercial buildings, master waste network analysis, preliminary planning and trunk sewerage diversion.