Margate development site smashes $2M

A DEVELOPMENT site in the heart of the Redcliffe Peninsula has sold for $2.05M following a strong expressions of interest campaign at 8-10 Duffield Road, Margate.

The asset came with a 2,430sq m* land area and was a flat, cleared site, that stretched over three allotments.

The site was marketed and sold by Ray White Special Projects Queensland Directors Matthew Fritzsche and Andrew Burke.

Mr Fritzsche said the asset was sold on behalf of a syndicate and was purchased by a local private group.

“We had a strong level of enquiry throughout the campaign, and the fact the process ended with multiple offers, highlights just how good the opportunity was,” he said.

“The purchaser’s intention is to develop the site into an apartment project, taking advantage of the proximity to the ocean and sea views stretching to Moreton Island.”

Mr Burke said the location of the site was a real drawcard with potential buyers with plenty of amenities on the doorstep.

“Being in the heart of the Redcliffe Peninsula means key facilities like schools, shops, medical, education and recreation are all in close proximity,” he said.

“To complement, you’ll only be 60* metres away from the Woolworths anchored MargateVillage shopping centre, and just 4km* to Kippa-Ring train station, offering a direct link to Brisbane CBD.”


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