Case Studies

Seven Hills TAFE Site, Morningside

The former Seven Hills TAFE site owned by the Southbank Institute of Technology (SBIT) occupies a 9.135 Ha parcel of land at 110 Darcy Road, Morningside 5km (approx.) east of the Brisbane CBD.

A comprehensive marketing campaign was undertaken which attracted over 50 enquiries and 31 inspections generating strong purchaser competition.

At close of offers on the 3rd November 2011, RWSPQ undertook a detailed summary of the offers submitted for consideration by the Independent Panel of Review for SBIT which comprised an independent valuer, property lawyer and the members of the SBIT executive committee.

A thorough process was undertaken in relation to analysing and scoring each of the offers via a matrix of weighted criteria. After short listing groups and calling for best and final offers a preferred party was selected and submitted to the relevant Qld Government Minister.

The minister provided approval on the 31st December 2011 for SBIT to accept a contract which was subsequently entered into providing a cash unconditional deal.

Sale Analysis*
Vendor:Southbank Institute of Technology
Method of Sale:Tender
Marketing Time Frame:6 Weeks
Sale Date:November 2011
Total Enquiries:50
Total Offers Received:14
Total Realisation:$13,500,000
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