Redland City Council has decided to “absorb” the projects of its property development company, the Redland Investment Corporation, into the Council’s major projects group.
The Council says that this decision means that there is no longer a need for the position of CEO of Redland Investment Corporation, so incumbent CEO Mr Cameron McColl has been thanked for his services which will no longer be required.
Mr McColl was appointed CEO of Redland Investment Corporation in September 2025, after acting in the position since May 2025.
The Council’s announcement sheds no light on whether Redland Investment Corporation will be wound up immediately, or retained for some years as an inactive shell company until legacy contractual arrangements expire.
Maybe this will be clarified in the Council’s 2025/26 Annual Report which is normally considered at the Council’s October monthly meeting.
Conceived in secrecy
Redland City Council established Redland Investment Corporation secretively in late 2014. About six months later the property company’s existence was announced with the Council saying: “Redland City Council has established an investment arm to generate income that will help fund infrastructure and services and minimise rates hikes”.
The new company was also to manage the Council’s interests in the Toondah Harbour and Weinam Creek Priority Development Areas.
An initial plan for Redland Investment Corporation to make money through development of ‘surplus’ neighbourhood parks was quickly terminated following strong community opposition.
The company was allowed to sell off land which had been used for Cleveland CBD public car parking in Wynyard Street and Doig Street.
It also did small residential developments in Alexandra Hills and Birkdale, and various projects in the Weinam Creek Priority Development Area including the Moores Road car park and related developments.
Council petitioned to wind up Redland Investment Corporation
In January 2019 Redland City Council was asked to wind up the Redland Investment Corporation, in a petition which was signed by about 260 Redlands residents. The petition said this should be done urgently, in order to:
- Improve governance of Council’s real estate and property related transactions
- Demonstrate full accountability in management of public land and assets; and
- Reduce the risk of corruption within Redland City Council.
This petition was initiated by Redlands2030 after the Crime and Corruption Commision (CCC) released its Operation Windage report which expressed concern about private companies being controlled by local government.
Council clips the wings of Redland Investment Corporation
On 16 June 2021 the Council resolved to confine its property company’s activities to progressing plans for Toondah Harbour, Weinam Creek and the Capalaba Town Centre redevelopment.
In May 2025, the Council gave Redland Investment Corporation responsibility for progressing the Cleveland Town Centre Revitalization Project, in response to a motion put forward by Division 2 councillor Peter Mitchell.
But by the end of 2025 it seems that the Council had lost faith in its property company. At its general meeting on 10 December 2025, Redland City Council resolved to limit Redland Investment Corporation’s ongoing role in development of a multi-story car park at Weinam Creek.
This embarrassing turnaround fueled several interesting stories by the Brisbane Times.
A confidential officers’ report proposing an increase in fees for the three long serving directors was knocked back at the Council meeting in December 2025. In March 2026 the three directors resigned and were replaced by senior council officers.
Financial performance
Over the decade from 2014/15 to 2024/25, Redland Investment Corporation’s financial performance was unimpressive. The Council’s initial objective that it’s property company would “generate income that will help fund infrastructure and services and minimise rates hikes” was unfulfilled.
Now, the Council says it is focused on achieving operational efficiencies and reducing overhead expenditure to reduce pressure on rates.
The Council will save about $675,000 per year which is what Redland Investment Corporation had been spending in recent years on the employment of its CEO, and fees for the three (part time) company directors.
Redland City Council is scheduled to announce its increases in rates and charges for next financial year on 30 June 2026.
