News

Park Ridge Site Sold for $6.75 Million

Park Ridge Site Sold for $6.75 Million

Adjoining properties with residential development potential (STCA) at Park Ridge in the southern Brisbane growth corridor have been sold for $6.75 million by Ray White Special Projects Queensland.

The two properties with a land area of approximately 8.605ha at 13 Koplick Road and 575 Chambers Flat Road, Park Ridge, were sold to leading residential property developer Villa World by Ray White Special Projects Qld’s Matthew Fritzsche.

Matthew Fritzsche said the sites were sold in an off-market transaction on behalf of a private local developer.

“These sites are on a corner position with three street frontage and are located near Frasers Property Australia’s ‘The Rise Estate’ in Park Ridge,” Matthew Fritzsche said.

“The property is well positioned to take advantage of existing and future infrastructure such as the proposed Woolworths anchored Park Ridge neighbourhood shopping centre, located approximately 1km to the north.

“The adjoining properties are currently zoned ‘emerging community’ which allows for residential development under the Park Ridge structure plan. There is a concept plan of a subdivision prepared by the vendor displaying a yield of 182 lots.”

Matthew Fritzsche said the residential land market in South East Queensland, particularly around Logan City, was continuing to be a strong performer.

“The achieved deal underlines the high demand for residential development sites within South East Queensland,” he said. “Development sites that attract interest share a similar profile of being close to amenities and transport.”

Park Ridge is located just 30 minutes south of the Brisbane CBD in a growth corridor earmarked for substantial future growth.

“In recent years this corridor has attracted the attention of a number of market leading property groups,” Mr Fritzsche said.

Up to Date

Latest News

  • Ray White Commercial Queensland promotes young gun

    AFTER just four years at Ray White Commercial Queensland director Matthew Fritzsche has been promoted to partner at the leading 30 year old business. Mr Fritzsche, aged 33, began his career as a town planner on the Gold Coast before making the transition to property valuation and … Read more

    Read Full Post

  • South East Queensland Land Market Remains Strong

    New data from Ray White’s SEQ Vacant Land Market Report confirms Brisbane’s residential house and land market performed strongly over 2017 with land prices up more than 11 per cent, which is good news for all developers. The South East Queensland Vacant Land Market Report, which reports on the 10 major Local Government … Read more

    Read Full Post