The offering comprises a 42.32 hectare* parcel of land with a MCU
– Preliminary Approval. Development is proposed over 10 stages incorporating variety of traditional lots, medium density and retirement product.
Well positioned in SEQ being 50km* north of Brisbane, 35km* south of the Sunshine Coast and only 18km* from the Caboolture commercial centre.
The site had Development Approval for an 88 lot lakefront residential subdivision with allotments ranging in size from 450m2* to 820m2*
Parties viewed this opportunity had concerns about the depth of the market in the Beachmere area and the resulting sales rate that are potentially achievable.
Most groups suggested that they felt they would have difficulty in financing the asset on any reasonable terms as lenders would have concerns about the depth of the market in this area.
The requirement for completion of the lake to provide fill to complete the allotments was seen as prohibitively expensive to the development.
Groups were in general looking at more main stream locations for sites as they felt that the demand for product would be greater.
|Method of Sale:||Tender|
|Marketing Timeframe:||7 Weeks|
|Sale Date:||May 2012|