Drewvale Development Site Sold for $4.1 Million
A residential development site adjoining the highly successful Trinity Green Estate at Drewvale, south of Brisbane, has been sold by Ray White Special Projects Queensland for $4.1 million.
The approximately 2.747ha site at 49 Lockyer Place, Drewvale, was sold to Brisbane developer Turrisi Properties by Mark Creevey, Tony Williams and Matthew Fritzsche of Ray White Special Projects (Qld) on behalf of a private SEQ based development group.
Mark Creevey said there was a strong response to an Expression of Interest campaign for the site, which has a development permit for 47 residential lots ranging in size from approximately 310 sqm to 840 sqm.
“We received a strong level of interest in response to this opportunity with a total of 90 enquiries and 10 separate offers to purchase the property,” he said.
“The majority of the enquiry was from small to medium sized residential builders and developers.”
Tony Williams said one of the key attractions of the site was its location within a well-established suburb close to major amenities and infrastructure.
“There was positive feedback about the anticipated demand for completed product in the area as there is very limited competing land in the immediate catchment,” he said.
Drewvale is located approximately 28km south of the Brisbane CBD at the junction of the Gateway and Logan Motorways