EXPRESSIONS of interest are being sought for a substantial approved townhouse development site in Brisbane’s affluent Bayside at 378 Manly Road, Manly West.
The 1.62ha* parcel of land comes with development permits for 32×3-bedroom and 4×4- bedroom townhomes, as well as one four-bedroom house, on a seperate freehold lot.
The development site is being marketed by Ray White Special Projects Queensland Executive Directors Mark Creevey and Tony Williams.
Mr Creevey said the approvals that came with land and the quality of proposed stock meant the opportunity would appeal to a diverse range of buyers.
“Given the combination of location, product type and the benefit of an approval, we anticipate this particular opportunity will be highly sought-after in the current market place, as sites of this nature, especially in the Bayside area, are rare,” he said.
“The development approval provides generously sized townhomes offering quality design, aiming to take advantage of the prime Bayside location.
“The higher quality product has been designed by renowned architects Rothelowman and will appeal to purchasers in the owner occupier market.”
Mr Williams said the Brisbane Bayside location was a big positive and the local area had everything that would appeal to couples and families alike.
“This area in particular is very tightly held with strong median house and land values, and it enjoys a generally consistent demand for product such as this,” he said.
“The site sits 14km* east of Brisbane CBD, is just 3.2km* to Manly Boat Harbour, is only 2.5km* to Lota train station and enjoys proximity to a wide variety of amenity such as shopping, public transport, education and recreational facilities.
“We expect strong enquiry in the site from the traditional townhouse development market, but also southern groups looking to make the move north, where market conditions are more positive.”