The sale comprises a 21.28ha irregular shaped allotment situated within the western growth corridor suburb of Redbank Plains located approximately 35 minutes west of the Brisbane CBD and 20 minutes east of the Ipswich CBD.

The property was purchased with development approval for a 240 lot residential subdivision, which encompassed a 6,500m² central park and a lineal park incorporating natural bush land of 1.6ha. The approved subdivision lots range in size from 385m² to 949m² with an average lot size of 444m².

The property was offered to market via a six (6) week Expressions of Interest Campaign, which closed on Wednesday 2 December 2015.

Throughout the campaign strong interest was received from a range of development groups including large private and public companies with the majority of companies already being active in the western corridor.

At the completion of the six (6) week campaign 85 inquiries had been received and a total of 7 offers to purchase were put forward. The successful party was Peet Limited Property who acquired the site for $7,250,000 Ex GST.

Sales Analysis*
Vendor:ALD (QLD) Pty Ltd
Method of sale:Expressions of Interest
Marketing budget:$23,820
Total enquiries:91
Total offers received:7
Sale price:$7,200,000 Ex GST
Sale date:February 2016