The sale comprises two adjoining properties, situated within the rapidly developing southern Brisbane corridor.
The properties form a 7.34ha near regular shaped site, zoned “Emerging Community” , situated at road height, having a generally level contour, with a westerly aspect.
The site had no approvals in place at the time of marketing. Logan Reserve is located 30 minutes south of the Brisbane CBD, within Brisbane’s southern corridor which is earmarked for substantial future growth. Furthermore in recent years this corridor has attracted the attention of a number of market leading property groups.
The site was offered to market via a six (6) week marketing campaign, which closed on Wednesday 29 June 2016.
Throughout the campaign strong interest was received from a number of well established development groups who are highly active in the SEQld’s land market.
Key issues which arose during the campaign were that the site had no approvals in place, and that the properties are subject to Waterway & Vegetation Overlays.
This resulted in the interested parties being unable to determine an accurate development yield for the site which in-turn softened the offers they were able to present.
At the completion for the campaign, 51 enquiries had been received and a total of 7 offers to purchase were put forward. The successful party was a private development group.
|Vendor:||Falso Properties Pty Ltd|
|Method of Sale:||Expressions of Interest|
|Marketing Timeframe:||6 weeks|
|Total Offers Received:||6|
|Sales Date:||July 2016|
|Sales Price||Under offer at present|