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Developer Demand for Brisbane Suburban Sites



Developer Demand for Brisbane Suburban Sites

A development site in Brisbane’s south has been snapped up by privately-owned residential aged care operator TriCare for $10.8 million.

The 4.069-hectare property in Rochedale was owned by a local family for more than 27 years.

JLL’s Sam Byrne brokered the deal, located at 20 Ford Road, via an expression of interest campaign which attracted five competitive bids.

“We received over 80 enquiries from local, interstate and off-shore developers,” Byrne said.

“The purchaser, privately owned residential aged care and retirement living operator TriCare, moved swiftly to acquire the landholding which neighbours their proposed retirement community.”

Since the rezoning of Rochedale, Byrne says a major transformation of the suburb has taken place with multiple new housing estates proposed and completed, attracting further attention for development.

Rochedale’s population is forecast to triple by 2036 according to government statistics.

“The suburb’s median house price is in excess of $1million; this is the same range as some of Brisbane’s most affluent suburbs such as Hamilton and Hawthorne,” Byrne said.

Brisbane Suburban Sites

In Brisbane’s east, developer Estates Co. has purchased two development approved sites totalling 2.23 hectares in Hemmant which sits 10 kilometres of the Brisbane CBD.

The Brisbane-based developer snapped up the properties, at 261 and 273 Hemmant-Tingalpa Road for $5 million and have approval for 36 home sites ranging from 400sq m to 600sq m.

The purchase follows on from Estates Co. acquisition of 30 Oswald Street Hemmant for $4.715 million around 12 months ago, with plans for a total of 68 residential lots.

Colliers International’s Jason Dao brokered the deal.

“Estates Co. has developed other projects in the surrounding area and has an excellent understanding of key infill sites, targeting these sites as the last available flood free land in the area,” Dao said.

Estates Co. said both projects will be developed in the first quarter of 2019.



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Brisbane Development Site Available for First Time in a Century



Brisbane Development Site Available for First Time in a Century

Expressions of interest are being sought for two nearby development sites that are being offered to the market for the first time in over 120 years at Broadwater Terrace and Marine Street, Redland Bay, Queensland.

The total site size of 1.933ha comes with 36 existing titles, and consists of a northern “island site” parcel and a southern parcel, with purchasers able to buy either one or both sites.

The asset, zoned medium density residential, is being marketed by Ray White Special Projects Queensland’s Andrew Burke and Matthew Fritzsche and Ray White Commercial Bayside’s Nathan Moore and Jonathon Burrowes.

“The last time this land parcel was available to the market, planning for the construction of the Story Bridge hadn’t even begun, so this really is a once-in-a-century opportunity,” Burke said.

“Across the road the northern parcel of 1.7 hectares comprises an ‘island site’ forming the amalgamation of 32 existing titles, which are partly utilised for residential housing and partly utilised for farming purposes.

“The individual allotments are estimated to range in size between circa 450sq m and circa 815sq m.

“The southern parcel of 2,343sq m comprises the amalgamation of four adjoining allotments, forming a corner site with frontage to both Marine Street and The Esplanade. The site is improved with two dwellings.

“Any multi-storey would be provided with significant views of the bayside.”

“The total site has two existing development approvals, the first of which is for a material change of use for a 28-unit apartment building,” Fritzsche said.

“The second approval is on a portion of the northern parcel for mixed use apartment building/tourist accommodation comprising 90 units, shop, and refreshment establishment.

“The sites are also within walking distance to the Redland Bay Marina, as well as the Redland Bay Hotel, cafes, shops, banks and an IGA.”

“Redland Bay is a picturesque suburb and sits just 40km south west of Brisbane CBD and is just 10km from Cleveland.

Brisbane Development Site Available for First Time

Ian Gordon said the land was of great historical significance to his family, with their great grandfather David Slawson originally purchasing the site around the turn of the century.

“David Slawson was a pastry cook who left Kingston upon Thames in England and started a pastry shop beside T C Beirnes in the Valley,” Gordon said.

“He was quite successful at this and is mentioned in the book, History of Queensland. He also ran and owned the Redland Bay Hotel and catered for guests to stay on holidays.

“His daughter Florence Slawson inherited the land and later married Charles Gordon, who became the Shire Clerk of the Tingalpa Shire before the Redland Shire existed.

“Charles then became the Shire Clerk of the Redland Shire when it was named. The land was farmed along with other parcels, growing small crops, custard apples and bananas.

“The ownership later transferred to my uncle Robert Gordon and my father Jack Gordon who was Councillor and Deputy Chairman for the local council for a period of 30 years.

“I’ve since farmed the land for approximately 40 years growing bananas. There have been five generations who have lived on this land.”

Expressions of interest close on Wednesday, 6 March 2019.



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Yeerongpilly Green Urban Renewal Project Forges Ahead



Yeerongpilly Green Urban Renewal

Consolidated Properties Group has commenced the retail component at its $850 million Yeerongpilly Green development in south Brisbane.

The first stage of the planned $250 million shopping hub at the heart of the urban renewal project is now under way with a $10 million restoration program for two heritage-listed properties, The Institute and The Stables.

Woolworths has also been announced as the anchor tenant for the 5,000sq m retail district and will create close to 100 new jobs once completed.

The Yeerongpilly Green development will comprise more than 5,000sq m of retail, commercial buildings, five hectares of parkland, a 103-room boutique hotel, country club, and 1,200 dwellings for 3,000 new residents.

Yeerongpilly Green Urban Renewal

Following the restoration, The Stables building will serve as an
“experience centre”, incorporating a new Yeerongpilly Green sales and display suite.

“The $5 million building will be completed mid-2019 and will be used as an experience centre incorporating a sales and display suite ready for our sales launch on 3 August at which our first 91 apartments and 10 townhomes will be formally released,” Consolidated Properties chairman Don O’Rorke said.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the recent completion of more than five hectares of parklands, new pedestrian-friendly pathways and new roads at Yeerongpilly Green had put the development on show to the public.

“Around 90,000 people recently attended the Brisbane International tennis tournament and I’m sure they would have been delighted with the progress and change this urban renewal project has brought to the area,” Dick said.

“With new parklands, new pedestrian-friendly pathways and new roads complete, Yeerongpilly Green is already putting on a show, and this highly-anticipated retail precinct with the new Woolworths will form the heart of the project and provide the shopping experience an urban renewal project of this scale merits.”

Around 50 or so buildings once stood on the 14 hectare site which runs along the Brisbane River between the Queensland Tennis Centre and Yeerongpilly Railway Station, with only a few heritage buildings still remaining which will be incorporated into the project.

Construction for the entire project is anticipated to take over 10 years and will generate around 6,600 construction jobs with The Palaszczuk Government committing $30 million towards the creation of parks, plazas and infrastructure at Yeerongpilly Green.



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Ozcare Lodges Plans for $200m Aged-Care Facility in Newstead



Ozcare Lodges Plans for $200m Aged-Care Facility

Aged care provider Ozcare has lodged ambitious plans for a $200 million dual-tower development in Newstead on the fringes of Brisbane’s CBD.

The 6,180 square metre site, was acquired by Ozcare from Mirvac in January almost a year after the ASX-listed property giant outlined plans for a dual-tower residential development of its own comprising 25-storeys and 14-storeys.

The proposed development, located at 43 Evelyn Street and 15 Gordon Street, will be carried out over two stages, eventually providing a 120-bed residential care facility as well as a 142 independent living units as part of a new retirement facility.

Ozcare Lodges Plans for $200m

Ozcare has partnered with strategic consultants Gallus Partners, who were initially contracted by Mirvac, to remould the development application towards high-standard aged care.

“The development will provide a very modern and beautiful aged care facility which will act more like a hotel,” Gallus Partners managing partner John Shepherd told The Urban Developer.

“There will be a distinct and luxurious hospitality focus providing high-end residential facilities for senior Queenslanders.”

The two-tower development, designed by Brisbane firm Conrad Gargett, will be constructed over a complex four-storey podium and a single basement level.

The first of the two towers will reach 16-storeys in height with the second reaching 21-storeys, adding to the sprawl of high-rise development along the Brisbane river.

“Integrating the development into the existing Newstead urban fabric was a key driver for the project team,” Conrad Gargett director John Flynn told The Urban Developer.

“The ground level colonnade creates an active pedestrian space connecting the residential tower, RACF and office lobbies with the proposed new public park and the existing Waterfront public park.”

Ozcare Lodges Plans for $200m Aged-Care Facility in Newstead

A total of 27,730sq m of gross floor area will be created throughout the development with 2,892sq m provided for office space and a further 163sq m dedicated to ground floor retail.

If approved, a construction tender will be issued with the decision expected to be awarded over the next 18 months.

Newstead has seen an influx in high-rise residential developments over recent years with a number of developers opting for aged-care provisions.

Aveo Group recently completed a similar $200 million 19-story vertical retirement community on Longland Street.

RetireAustralia has revealed plans for its first retirement apartment project in Brisbane.

The 8-storey development, to be based in Lutwyche, will comprise 183 contemporary independent living apartments and 35 state-of-the-art high-level care apartments.

Other Queensland aged care development projects in planning include Aveo’s 16-storey retirement tower on the Gold Coast, which will accommodate more than 150 seniors, Denmac Nominees’ 12-storey retirement facility in Brisbane’s inner north suburb Windsor, and Japara’s $30 million aged-care facility in Robina.



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