Case Studies

61-79 King Street, Thornlands

A highly sought after Bayside location surrounded by established residential development, clear, flat level land close to existing infrastructure and close proximity to major shopping, transport, educational and recreational facilities with a development permit for Retirement incorporating 81 ILU’s and 62 ILA’s plus Community Facilities and at land area 8.78 hectares*.

The overall response to the marketing campaign to date has been positive with a strong level of enquiry received. The majority of interest has been from development companies seeking to utilise the property for residential land subdivision with a lesser number looking to take advantage of the existing approval for retirement.

Most groups have commented that they like the general location of the site as there is generally strong depth in demand for completed product in the Thornlands area for both land and retirement product.

The flat nature of the site was viewed as a benefit in providing potential savings in development costs when compared to other more constrained sites.

Sales Analysis*
Method of Sale:Offers to Purchase
Marketing Time Frame:8 weeks
Marketing Budget:$17,402.50
Vendor:RSL Care
Number of Offers:12
Sale Date:Confidential
Sale Price:$10,800,000


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