Case Studies

152-280 Grampian Drive, Deebing Heights

The 114 Ha development site is located in the SEQ Growth Corridor suburb of Deebing Heights within the Ripley Valley Priority Development Area (PDA). The site is located approximately 10 kilometres from Ipswich CBD, 3.5 kilometres to Yamanto Village and 5 kilometres to future Ripley Town Centre with direct access to Centenary Highway interchange.

The site was offered for sale with a Development Permit (ROL) to create 3 management lots. Management Lot 2 of 58 Hectares has a DA submitted for 586 dwellings comprising 502 traditional lots and 84 medium density dwellings, community and open space. The remaining management lots provide opportunity for future residential and / or commercial expansion.

Expressions of Interest Closed on Wednesday, 25 March 2015.

Feedback received throughout the campaign is outlined below:

– Development, marketing and sale activity undertaken throughout 2014 by Amex, Sekesui and Stockland in the Ripley and Deebing area has given other groups general confidence in the region in the ability to achieve a reasonable rate of sale

– Many groups have indicated that they do believe that while they consider demand in general in the western corridor is likely to remain strong over the short to mid- term they are also concerned about the amount of potential competing supply that will come on line over the next 12 – 24 months.

– Feedback in relation to the physical characteristics of the site has been generally positive with those groups who have inspected commenting on the contour levels indicating there is unlikely to be a requirement for significant amounts of bulk earthworks or benching of the land to deliver flat allotments

– Groups have commented that they do still see elements such as vegetation, koalas, servicing and Cultural Heritage as being the most significant risk items that could impact negatively on the proposed yield and timeframe for development to occur.

– The focus of groups attention has been upon future Lot 2 and the feasibility of developing this portion of the site. Most groups while including Lot 1 and 3 have indicated that they do not plan to develop this portion in the short term rather sit and hold or look at selling on immediately.

Sale Analysis*
Vendor:Deebing Development Pty Ltd
Method of Sale:Expressions of Interest
Marketing Timeframe:6 weeks
Total Enquiries:46
Total Offers Received:5
Sale Date:May 2015
Sale Price:Confidential
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