Approved Toowong development site sells for $1.9M

A TOOWONG site with development approval for five architecturally designed terrace homes has sold for $1,900,000 (excl. GST) at 56 Aston Street in Brisbane.

Proposed for delivery on five freehold lots ranging in size from 171sq m* to 267sq m* – the properties are designed to offer two levels of living area above a garage and storage area – just 5km* from the Brisbane CBD.

The property was marketed and sold by Ray White Special Projects QLD Executive Directors Mark Creevey and Tony Williams following a successful expressions of interest campaign.

“This deal is the latest in a number of sales that highlight just how sought-after sites are with development approval in place that sit on Brisbane CBD’s doorstep,” Mr Creevey said.

“This is evidenced by the fact we had an incredibly strong interest in the property throughout the campaign – with 134 enquiries and 12 offers received.”

“Interested parties were primarily private developers and builders seeking to take advantage of the surge of interest in the city from owner-occupiers and downsizers,” Mr Williams said.

“The project has been designed to achieve a high-quality architectural outcome, utilizing the gradient of the site, and complimenting the surrounding housing.”

*Approximately.