Lot 89 School Road

The sale comprises a 21.28ha irregular shaped allotment situated within the western growth corridor suburb of Redbank Plains located approximately 35 minutes west of the Brisbane CBD and 20 minutes east of the Ipswich CBD.

The property was purchased with development approval for a 240 lot residential subdivision, which encompassed a 6,500m2 central park and a lineal park incorporating natural bushland of 1.6ha. The approved subdivision lots range in size from 385m2 to 949m2 with an average lot size of 444m2.

The property was offered to market via a six (6) week Expressions of Interest Campaign, which closed on Wednesday 2 December 2015.

Throughout the campaign strong interest was received from a range of development groups including large private and public companies with the majority of companies already being active in the western corridor.

At the completion of the six (6) week campaign 85 enquiries had been received and a total of 7 offers to purchase were put forward. The successful party was Peet Limited Property who acquired the site for $7,250,000 Ex GST.