A boutique sized medium density residential development opportunity, situated within the sought after near city suburb of Greenslopes.
The property is a 1,012m2 regular shaped site zoned “Low Medium Density Residential (2 or 3 Storey Mix)”, situated at road height with a southerly aspect. The property is improved with a high-set post war 3 bedroom dwelling which has an estimated weekly rental of between $550 – 600 per week.The sale was purchased with no approvals in place. Greenslopes is a sought after near city residential locality, being situated just 5 kilometres south of the Brisbane CBD. More specifically Greenslopes is situated in close proximity and well serviced by key infrastructure and amenities including Greenslopes Private Hospital, Princess Alexandra Hospital, Coorparoo
Square mixed use development, Stones Corner retail precinct and rail and bus transport networks. The site was offered to market via a six (6) week marketing campaign which closed on Tuesday 21 June 2016.
The campaign generated a strong level of interest from a range of small to medium sized development groups and private individuals.
Key issues which arose during the campaign were:
– The impact on development of the overland flow path;
– The weakening of the Brisbane residential unit market; &
– The property’s location to specific services which may not allow the site to be developed up to 3 storeys in height
At the completion of the campaign 47 enquiries were received with a total of 3
offers to purchase were put forward. The successful party secured the site for
$1,087,000 Ex GST
|Method of Sale:||Expressions of Interest|
|Marketing Timeframe:||Six Weeks|
|Total Enquiries:||Expressions of Interest|
|Total Offers Received:||3|
|Sale Price:||$1,087,000 Ex GST|