An amalgamated parcel in Bridgeman Downs has been sold for $9.1 million by Ray White Special Projects Queensland.
Local private developer Ekko Point Properties bought the 3.14-hectare site, comprising 310 & 314 Albany Creek Road, and subsequently achieved an approval for 50 residential lots.
“The property was sold through a six-week expressions-of-interest sales campaign which was highly competitive, with 19 offers and 132 inquiries received,” agent Matthew Fritzsche says.
“The sale of the property, on behalf of two private adjoining landowners, underpins very strong market conditions for development sites in near-city Brisbane suburbs. Bridgeman Downs in particular has demonstrated significant growth in recent years.”
Active major developments in Bridgeman Downs include Highfields by Unison Projects (134 lots), AV Jennings’ Enclave (54 lots), Ausbuild’s Hampton Rise (47 lots), Bridgeman Hilltop by Oxmar Properties (138 lots) and Harrington Estate, also by Ausbuild, with 76 lots.
“It’s one of south-east Queensland’s most active and sought-after development areas with strong interest from owner-occupiers and investors alike,” Mr Fritzsche says.
“Prospective buyers recognised the potential for a variety of development options including residential subdivision, townhouses and aged-care, subject to council approval.”
Ekko Point Properties is the company behind residential projects including Vicinity at Everton Park, Limestone Place and Dorchester Park at Carseldine, and the forthcoming Kings Park Caboolture house-and-land development.
Zoned Emerging Community, the Albany Creek Road property is close to Aspley Hypermarket, Homemaker City, parklands, schools, hospitals and public transport.
Bridgeman Downs is 14km north of the Brisbane CBD.