August 2007

MEDIA RELEASE

MFS Diversified Group Cottons on to Community Life

MFS Diversified Group has started work on the master-planned community Mount Cotton Village at Mt Cotton on the doorstep of Redland Bay.

The Group bought the 93ha hectare project from Bayview Country Club Pty Ltd last year with plans to continue to develop the site into a $260 million residential enclave and community precinct.

Work is underway on the first stage of the Villa World branded development of 677 house and land packages. The project also includes an upgrade of the existing shopping centre and the main entry boulevard which will be complemented by a village green.

MFS Diversified Group's acting head of residential development Mr Dean McMahon said the project offered an exciting opportunity to create a quality residential community in an attractive bushland setting.

He said approvals were already in place for the project which would be a mix of the Group's new Villa World brand contemporary-style homes featuring a variety of colours, designs and features such as decks overlooking the pristine environment.

"At Mt Cotton we will be able to create a lifestyle opportunity that offers residents a peaceful environment with homes designed to maximize the natural bushland setting. Villa World has become synonymous for building value driven, quality homes for our customers' enjoyment in outstanding locations such as Mt Cotton," explained Mr McMahon.

He said the split-level designs the Group introduced at the successful The Reserve project at Oxenford would be offered at Mount Cotton.

"These homes capture the aspects and elevations not normally available with homes built on flat blocks," said Mr McMahon.

"Residents will be able to enjoy community life with nature reserves, walking trails and picnic areas and the adjacent parkland surrounding the neighbourhood shopping centre," he said


Mr McMahon said the Group had invested in bringing Telstra Velocity TM technology via fibre optic cabling to all its new Villa World homes at Mt Cotton. This will provide residents access to high speed internet, digital TV, telephone and entertainment services, with the ability to provide instant access to other products and services being developed that will be available in the future.

Well-known Queensland property researcher Michael Matusik has been reported as saying technology plays an important role in the property market.

"As owners become more aware of the importance of communications advancements like Telstra Velocity TM, the ability to work from home using a single fibre optic cable with multiple access points will be highly valued.

"The concept of working from home and having access to more sophisticated home entertainment systems is an international trend and high-end communication technology like we are offering at Mt Cotton is especially important for education, business, lifestyle and leisure," explained Mr McMahon.

The project is located in the urban growth corridor in the Redland Bay Shire on the eastern side of Mt Cotton Road. Access is from Valley Way off Mt Cotton Road .

The M1 motorway is approximately 10 minutes drive from the project allowing direct access to Brisbane and the Gold Coast.

The local primary school is only two kilometres away with the major shopping precinct of Logan Hyperdome within 5 kilometres and the popular Moreton Bay Islands accessed from the nearby Redland Bay ferry terminal.


For further information contact:


SALES MEDIA

Gavin Power Arthur McKinley
Tel: 07 55 888888 or Tel: 0414 938 777