The 1,953m²* property with Development Approval is located in the fast growing commercial hub of Chermside in Brisbane’s northern suburbs. The approval was for a mix of 72 residential units and 2 commercial units with a combination of 1, 2 & 3 bedroom designs.Strong enquiry was generated throughout the initial marketing campaign with 63 groups requesting further information. The site was positively viewed with a current development approval and presales allowing an immediate avenue for development.Obtaining both acquisition funding as well as development funding for the project remained the key concern for the vast majority of purchasers. The larger public development groups who are able to carry a project of this capacity preferred sites with closer proximity to the CBD.The majority of development undertaken in the Chermside precinct to date is by private local developers and developer / builders. The base of enquiry was smaller to medium sized builder / developer groups.
|Method of Sale:||Expressions of Interest|
|Marketing Time Frame:||6 weeks|
|Number of Offers:||3|
|Sale Date:||August 2013|