A near level vacant 3,003m2* site located in Mansfield 13km* Southeast of Brisbane CBD. Designated Low Density Residential, and situated in a prominent corner location with long street frontage, close to schools, TAFE, shopping, transport, playing fields & park. It also benefits from easy access to the Logan Road, Creek Road and Gateway Motorway.

Strong interest was received from the marketing campaign with upward of 50 enquiries. There was a wide variety of interest generated predominantly from the greater Brisbane region with some interest from the Gold and Sunshine Coasts. The enquiry profile was smaller to medium sized developers / builders or syndicates. The bulk of the interested parties were looking at the property as a subdivision opportunity which should yield between 6 and 8 lots.

Other alternatives for the site included medium density however no absolute GFA or yield had been provided.

Some groups who initially considered a townhouse use had determined that it was not viable as the lack of depth on the site did not allow sufficient room to cater for a design with the ability to have two rows of townhouses.

Sale Analysis*
Method of Sale:Expressions of Interest
Marketing Timeframe:6 Weeks
Vendor:The State of Queensland (represented by Department of Housing and Public Works Formerly Department of Communities)
Sale Date:July 2013
Total Enquiries:52
Total Offers Received:13
Total Realisation:$1,292,500