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Carbone Property Group buys Redland Bay development site

CARBONE PROPERTY GROUP, a privately owned property business that has operated in Brisbane for over 20 years, has snapped up a Redland Bay development site for $2,000,000 at 111–149 Esplanade.

The parcel of 2,343sq m* land area comprised the amalgamation of four adjoining allotments that formed a corner site with frontage to both Marine Street and The Esplanade. The site was also improved with two dwellings.

The property was marketed and sold by Ray White Special Projects Queensland’s Andrew Burke and Matthew Fritzsche, along with Ray White Commercial Bayside’s Nathan Moore and Jonathon Burrowes.

Mr Burke said the land was of great historical significance and any multi-storey development would provide significant views of the bayside.

“Carbone Property Group purchased the site and they see this as an extension to their nearby successful unit development in close proximity,” Mr Burke said.

“They focus on all aspects of the residential and commercial property market, including acquisition, development, construction, management and sales.”

Mr Fritzsche said the land parcel had an existing development approval for a material
change of use for a 28-unit apartment building.

“We continue to see assets like these that have approvals already in place attracting a lot of attention from builders and developers,” Mr Fritzsche said.

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

*Approximately.

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