Richlands Development Sites Sold
Two residential development sites in the south-west Brisbane growth suburb of Richlands have been sold by Ray White Special Projects (Qld).
The properties at 82-106 Brentford Road, Richlands, and 43 and 51 Brentford Rd, Richlands, were sold to South East Queensland developers by Ray White Special Project Qld’s Matthew Fritzsche on behalf of private owners.
Matthew Fritzsche said 82-106 Brentford Rd was sold off market and comprises two adjoining properties which form a 3.2ha parcel, zoned “Low-Medium Density Residential (Up to 3 Storeys)”.
The site was purchased by Brisbane based developer Indigo Group, subject to approval for a 61 lot subdivision.
Indigo Group Director, Michael Truce, said: “Richlands is a strong performing suburb, particularly for detached housing. 82-106 Brentford Rd presented an excellent opportunity to develop an estate of affordable family houses with great access to the city, schools and transport. In today’s housing affordability crisis, solutions such as this are more important than ever.
“The estate, Sienna Grove, will feature extensive green spaces, stunning elevations and provides great quality affordable housing which the market is crying out for. The estate presents families with an alternative to medium density community title schemes and large house blocks. Sienna Grove is an example of how quality affordable homes are being delivered in South East Queensland.”
Matthew Fritzsche said 43 and 51 Brentford Rd, Richlands, comprising two adjoining land owners forming a 1.56ha site, was also zoned “Low-Medium Density Residential (Up to 3 Storeys)” and was sold to Impact Homes.
“These transactions were subject to DA, with both sites gaining approval for separate medium density developments of 35 townhouses (total of 70 townhouses),” he said.
Brisbane-based Impact Homes is among the top 20 builders nationwide and employs approximately 250 people. The company, established in 1996, operates four distinct business units providing services throughout Queensland, NSW and Victoria.
Richlands is located approximately 25 minutes’ south-west of the Brisbane CBD, within Brisbane’s southern growth corridor which is experiencing a period of major growth.
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.
A retail development site in the heart of Perth’s CBD has sold for $48 million. The 1,705sqm site at 96 and 110 William Street, and 255 Murray Street Mall was marketed by RWC WA agent Brett Wilkins.