Entrepreneurial Gold Coast developer Adam Lacey has launched his own residential development company, Lacey Group, with a $90 million pipeline of new projects to be rolled out over the coming 12 months.
The property identity, who was named in BRW’s prestigious ‘fast 100’ list in 2014, said the company was putting the finishing touches on its first project – an apartment development in Upper Mount Gravatt, which will be released later this month.
Mr Lacey, whose company is based at Oracle Broadbeach, said plans were being finalised for another two projects, also located in south east Queensland, which will be brought to market by the end of 2017.
“We see a lot of potential in this market,” he said.
“Our focus is on developing quality, boutique projects in the south east Queensland corridor to meet the region’s rapid growth, with strong demand from both the owner-occupier and investor markets.
“We identified Upper Mount Gravatt as the ideal location for our first project. The area is underpinned by an established mix of amenities, including Westfield Garden City and Griffith University’s Mount Gravatt and Nathan campuses, and its ease of accessibility to the motorway and public transport.
“The suburb really epitomises an emerging property hotspot, with a transformation taking place and further significant expansion earmarked for the coming years.
“The project we are about to launch will be a showcase of the direction I want to take with Lacey Group – and that is delivering apartments and homes that offer good design outcomes in strategic growth and lifestyle precincts.
“It will offer buyers the chance to secure an apartment that stands apart from those currently available and allow savvy buyers to get in at the start, and benefit from, the area’s rejuvenation.”
Mr Lacey already has a string of highly successful projects in south east Queensland to his name.
He worked for one of Queensland’s most high profile developers, Sunland, for three years, before becoming a co-founder of residential development company, Onyx Property Group.
Onyx has delivered more than $70 million in gross realisation since inception in 2009, including the $32 million Lavender Hill at Griffin in Brisbane’s north, $16 million Allissee Villas at Hollywell and $7 million Currumbin Pocket at Currumbin Waters, on the Gold Coast.
Mr Lacey is from rich development pedigree, with his late father, Peter Lacey, a prominent figure on the Gold Coast property scene in the 1980s and 1990s and recognised as one of the greatest surf life saving competitors of all time.
He said after more than seven years as co-director of Onyx, it was a natural progression to start his own company and continue the legacy of his late father.
“The success of Onyx Property Group has really given me the platform to establish my own business,” he said.
“My father’s involvement in developing some of the Gold Coast’s most iconic buildings sparked my love for the property industry and I’ve always known this was the direction I would ultimately take.
“Lacey Group will allow me to focus on developing apartments and homes, with the cornerstones of design quality and innovation, which allow residents to put the emphasis on lifestyle.”