Low Profile billionare Bob Ell has boosted his Gold cOast Holdings after scooping up a 650 lot Coomera development for more than $30 million.

Giant developer and shopping centre owner Leda Group which is controlled by the Hedges Avenue dwelling Mr Ell, who was ranked 22nd in the BRW rich list, has bought the 54ha project from Surfers based Ingles Group.

The site is an amalgamation of land bought from third parties for $26 million during 2003-04 by Ingles Group company West Gala. The land is smack in the middle of the Gold Coast's booming northern growth corridor and adjacent to the site earmarked for the Coomera Town Centre, which is to be a regional hub with commercial, retail, education, health, transport and other facilities.

The holding is north of a 75ha parcel on Cunningham Drive owned by another Ingles company, Drift Sail, and earmarked for an 850 lot subdivision.

A Leda spokesperson confirmed the purchase but said there were no immediate plans to develop the site. "We will allow the area to mature before proceeding with any development plans, but we will develop it in time," said Leda.

Ingles Group boss Graeme Ingles declined to comment on the buyout due to a confidentiality clause.

The Coomera purchaes adds to Mr Ell's Gold Coast-Tweed projects, including the troubled 840ha, $500 million Kings Forest development site west of Casuarina and the $1.25 billion Cobaki Lakes development in the Tweed Shire.

Mr Ingles announced he would sell the West Gala site last year, saying he had more property at Coomera than he required with the Drift Sail venture incorporating 850 lots and estimated to be a six year project.

At the time, Mr Ingles said the two sites were too close to each other and that development on one would have competed with development on the other.

The West Gala land has a colourful history, featuring in the recent Crime andMisconduct Commission hearing into the Gold Coast City Council after Depty Mayor DavidPower sold his property there to the Ingles Group, which had contributed $10,000 to his re-election campaign for $1.125 million. Cr Power's sister also sold her neighbouring property for $1.275 million to the developer.