Three contiguous allotments of between 1,693m2 – 2,191m2 forming a 5,972m2 irregular shaped site, zoned “Mixed Use (Centre Frame)”, situated at road height, with a westerly aspect.

The property is also within the Playfield Street 1D – Sub Precinct of the Chermside Centre Neighbourhood Plan. The Sub-Precinct allows for primarily high density residential development with small-scale retail, restaurants, cafés or office uses at ground storey, with a maximum building height of 12 storeys with a maximum gross floor area of 300% of site area (17,916m2).

The property does not have any approvals in place. The property was marketed via an expressions of interest campaign throughout March closing on 30 March 2015. Throughout the campaign a total of 43 enquiries were received with one formal offer made for all three allotments at $8,000,000 subject to 99 Due

Diligence, with a 5% deposit and a 12 months settlement period.

 

 

Sale Analysis*
Method of Sale:Expressions of Interest
Marketing Timeframe:6 Weeks
Offer Received:$8,000,000
Total Enquiries:43