Case Studies

242 Englefield Road, Darra

The sale is one of the most significant infill development opportunities to be offered for sale in South East Queensland.

The property comprises an elevated 7ha irregular shaped site, with a development footprint of 6.5ha, which will be delivered prior to settlement as cleared, serviced and compacted to Level 1 classification.

The sale is zoned “Extractive Industry”, but has a “Preliminary Approval for a D.A. – MCU (Low-Medium Residential)” Designation, which provides the purchaser a streamlined approval process within the framework of a low/ medium density residential outcome for the site.

As such the site provides a range of redevelopment opportunities including residential subdivision, townhouses, or aged care amongst others (Subject to Council Approval). Darra is located approximately 16 kilometres south west of the Brisbane CBD, with the property strategically positioned to take advantage of a wide range of public and private infrastructure.

The property was offered to market via five (5) week, marketing campaign which closed on Wednesday 7 June 2017.

Throughout the campaign strong interest was received from a range of development groups including large private and public development companies, who were attracted to the site given the rare opportunity to acquire such a significant infill development opportunity.

At the completion of the five (5) week, marketing campaign, 174 enquiries were received and a total of 19 offers to purchase were put forward.

The successful party was a private development company, who acquired the site for $20,000,000.

Purchaser Concept

The purchaser is proposing to undertake a residential development comprising 38 residential lots and 170 townhouses consisting of:
• 21 small lots (300m2 – 400m2);
• 17 larger lots (400m2+);
• 44 three bedroom townhouses; &
• 126 four bedroom townhouses

Sales Analysis
Method of Sale:Expressions of Interest
Marketing Timeframe:5 Weeks
Marketing Budget:$38,424
Total Enquiries:174
Total Offers Received:19
Sale Date:08/17
Sale Price $20,000,000
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