This article is from the Australian Property Journal archive
TWO neighbouring development sites in Brisbane inner northern suburb of Nundah have been sold to a private developer for $1.67 million.
The two sites at 27 and 33 Nundah St Nundah were sold by Ray White Industrial Milton’s Paul Anderson on behalf of separate vendors Plan2Solve Pty Ltd and the Roberts family.
Anderson said the purchaser is seeking development approval across both MP2 zoned sites for approximately 42 residential units.
“The properties are next to the Nundah railway station car park and the total site area is approximately 1,214 sqm. The blended rate per sqm is approximately $1,374 per sqm which is good buying for MP2 zoned land,” he added.
Anderson said there was a hive of development activity around Nundah, which is just 9 km from the Brisbane CBD and in close proximity to Brisbane Airport and Toombul Shopping Centre.
“The rejuvenation of Nundah Village, the development of Aspinall St, the sustainable transport solution with rail links and proximity to Brisbane make it compelling to purchasers buying the end product. This in turn gives developers and their financial providers confidence to build product,” he continued.
Anderson also recently sold a vacant, 405 sqm industrial property at 33 Nundah St Nundah, for $709,000.
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