This article is from the Australian Property Journal archive
A BLOCK of townhouses known as Foga Lodge in Brisbane’s inner-west has sold to a local investor/developer for $5.5 million.
The 53 Coonan St Indooroopilly property currently comprises nine townhouses on 2,192sqm land.
The new owner plans to hold onto the property as-is on a short-term basis before exploring development opportunities, with the property sold with potential for a 77-apartment, 6,575sqm project.
The sale price reflects a land rate of $2,508, and a potential unit rate of $71,428 per apartment.
Savills sold the property on behalf of a Melbourne family.
Australian Property Journal
