Exceptional Coorparoo development site sells for over $10M

BOLTON CLARKE has purchased an exceptional development site, currently occupied by the Coorparoo RSL, in the affluent inner-Brisbane suburb for over $10,000,000^ at 20 Harries Road in Coorparoo.

The property commands a 2,693sq m* corner site with 105m* street frontage and is opposite Coorparoo Square, the $252 million mixed-use development recently completed by heavyweights Fraser Property Australia and Honeycombes Property Group.

The property was marketed and sold exclusively by Ray White Commercial Qld Director and Head of Investment Sales Tom Barr and Ray White Special Projects Qld Executive Director Matthew Fritzsche.

A concept image of what 20 Harries Road in Coorparoo could look like.
“The sale campaign attracted very strong interest with buyers, both local and interstate, private and institutional,” Mr Barr said.

“We received competitive bids from both investors and developers. The developers were primarily contemplating vertical retirement living/aged care and/or residential apartments on the site.

“With a short-term leaseback to the Coorparoo RSL, the asset is positioned to capitalise on the future growth and development within the Brisbane south-eastern corridor, in particular the recently completed $250 million* mixed-use Coorparoo Square development (opposite).”

“The site and location offered great development potential with a code accessible-height up to 16 storeys with upper levels to incorporate panoramic city views. The popular suburb is only 3km* to the Brisbane CBD and within walking distance to public transport,” Mr Fritzsche said.

“The upcoming Eastern Transitway really appealed with the project delivering targeted bus priority measures to improve safety, reliability, and capacity along Old Cleveland Road, from Coorparoo to Carindale.”

^Including GST.

Up to Date

Latest News

  • Coffs Harbour Motel on Massive Land Parcel For Sale

    Insolvency and restructuring expert, Bill Karageozis of McLeod and Partners has appointed leading specialist brokerage firms Ray White Commercial Queensland and HTL Property to sell Coffs Motel and Villas, located at 209 Pacific Highway, Coffs Harbour. Bill Karageozis of McLeod and Partners was appointed as the Liquidator to the asset … Read more

    Read Full Post

  • 4 Reasons to Sell at the Summer Auction Day

    Take Advantage of the Strong Selling Conditions 10 of our most recent on market campaigns averaged 143.6 buyer enquiries, 8.3 registered bidders/offers, with yields as tight as 3.81% and some prices 20% above owners price expectations. These results continue to defy media headlines and market speculation. All of our Ray … Read more

    Read Full Post