NO Limit Group has added to its expanding property portfolio in south-east Queensland with the purchase of a four-hectare site at Holmview, near Beenleigh, for $1.575 million.

The Gold Coast-based company has now spent a total of $12.7 million acquiring adjoining sites around the Tallagandra and Teys Road areas.

The purchase completes a significant amalgamation of more than 31 hectares by No Limit in the Beenleigh area for a $110 million residential development.

The purchase of the 4.04ha site, also on Tallangandra Road, will add another $10 million to the end value of the residential project, with the proposed additional development of a further 38 house and land projects.

No Limit CEO John Marshall says the latest purchase, which settles in early
2007, completes the 'final piece of the jigsaw' in the amalgamation process and will enable No Limit to add additional parkland to the estate.

"We were very eager to purchase the remaining parcel because we felt it would enhance the aesthetic value of the development," says Mr Marshall.

"We believe this will further complement the development and now that civil works are under way, we are looking forward to delivering much-needed housing in this high growth area."