Triple treat for three under the hammer SEQ approved sites

BOTH developers and builders have a hat-trick of opportunities to snap up three substantial approved residential subdivision sites going under the hammer on Thursday 31 October.

53 Telegraph Road in Bald Hills has a 1.65ha* land area and offers development approval for 30 residential lots from 400sq m* to 450sq m* with a 400sq m* median.

392 Wuraga Road in Holmview comes with a 2.4ha* land area and also has a development approval for 44 residential lots ranging in size between 350sq m* to 1,641sq m*.

16-28 Park Road in Deception Bay offers a 2.924ha* land area and comes with development approval for 49 residential lots ranging in size from 222sq m* to 562sq m*.

The three development sites are being marketed and sold by Ray White Special Projects Qld Executive Directors Mark Creevey and Tony Williams.

Mr Creevey said buyers looking at residential development sites were crying out for approved sites with limited opportunities in the market across South East Queensland at present.

“The market for land parcels in South East Queensland is buoyant right now and when one comes to market with development approvals, it attracts strong interest,” Mr Creevey said.

“This auction event offers an opportunity seldom offered where residential development site buyers can come together and compete for not one but three approved development sites.

“We know there’s an undersupply of these types of land parcels across Queensland so we expect there’ll be a lot of interest in these three assets before and on auction day.”

Mr Williams said bidders would not only be attracted to the approvals, but by the fact two of three sites will be offered with a number of presales.

“In the case of Deception Bay, an Operational Works Application has been lodged with the Moreton Bay Regional Council and 22 lots have already been pre-sold,” Mr Williams said.

“The same goes for Bald Hills, a number of presales have already been achieved, and the Operational Works Application is with Brisbane City Council.

“The Holmview asset is just 35km* to Brisbane CBD and 49km* from Surfers Paradise, with convenient access to the Pacific Highway as well as Ipswich and Logan Motorways.”

All three lots go under the hammer at 10:30am on Thursday 31 October 2019 at Level 26, 111 Eagle Street in Brisbane.

*Approximately.