Case Studies

11 Rachow Road, Thornlands

A residential development site, situated in the established Bayside locality of Thornlands.

The property comprises a 6.04ha irregular shaped inside allotment, situated at road height, having a gently undulating nature, and an easterly aspect.

The sale is subject to multiple zonings and is within the South-east Thornlands Structure Plan, which allows the property to be developed for residential purposes.

The property was sold with approval for an 8 lot rural residential development. However the site is considered to provide the potential opportunity to achieve a higher development yield. The new buyer subsequently submitted an application for 167 townhouses.

Thornlands is located approximately 30 kilometres south east of the Brisbane CBD, and is an established Bayside locality, which is well serviced by a wide range of private and public infrastructure.

The property is located just 10 minutes south of the Cleveland CBD, adjacent to the Waterline residential estate, in close proximity to three major shopping centres, and a number of primary and secondary schooling options.

The sale was offered to the market via a six (6) week marketing campaign, which closed on Thursday 21 August 2014.

At the completion of the campaign, 31 enquiries were received and a total of 4 offers to purchase were put forward. The successful party was public development group Villa World who acquired the site for $5,200,000

Sales Analysis*
Vendor:Private Persons
Method of sale:Expressions of Interest
Marketing timeframe:Six weeks
Total enquiries:31
Total offers received:4
Sale date:10/14
Sale price:$5,200,000
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