This article is from the Australian Property Journal archive
LOGAN Central’s sales activity has picked up recently as interest in the area rises due to the projected growth of the suburb.
Data shows that Logan’s population is expected to exceed 500,000 by 2036. Located within 45 minutes of both Brisbane and the Gold Coast, the suburb presents an ideal location for investors and future buyers.
Along with neighbouring Ipswich, it is predicted to grow more than any other council region in South East Queensland over the next 20 years.
Four properties have recently been sold in the area.
- 1 Station Road, Logan Central – sold for $2.75 million. 2,633 sqm site housed Wembley Park Plaza, single level office and retail property partially leased to multiple tenants.
- 7-9 North Road, Logan Central- sold at auction for $1.06 million. Two-storey block of residential apartments on the cusp of Logan Central’s CBD and retail hub.
- 2-2A North Road, Logan Central – sold prior to auction for $950,000. Two street frontage, Nine commercial units in one line.
- 69 Station Road, Logan Central – sold by private treaty for $370,000. 784sqm vacant parcel of low-medium density residential land, close proximity to local train station and shopping precinct.
Across the four properties there were over 600 enquiries, says Savills’ associate director metropolitan and regional sales Daniel Pepper.
“In particular, we saw strong interest from interstate investors who were, no doubt, attracted to the relative value of commercial properties in Logan compared to those available in Brisbane,” he said.
In order to facilitate the predicted growth for the area, the South East Queensland Regional Plan 2017 has requirements in line with future demand with an extra 89,900 residential dwellings to be delivered to Logan from 2016 to 2041.
Gregory Woods, director metropolitan and regional sales at Savills agreed, said Logan’s stature amongst investors is set to grow quickly.
“With strong infrastructure investment in place in and around Logan, from the motorway upgrade and busway extension, to the delivery of better hospital, health and education services, Logan and surrounding suburbs are proving to be serious contenders for investors looking for sites in the surrounding suburbs of Brisbane,” he said.
