This article is from the Australian Property Journal archive
A LARGE development site near Ipswich CBD in Queensland’s high growth western corridor has been sold to a private Brisbane-based developer for $4.85 million.
The site was sold by Ray White Special Projects Queensland directors Mark Creevey and Tony Williams.
Located at 54 Wensley Rd Ripley, the 18ha site is in the Ripley Valley Urban Development Area.
Creevey said the Ripley Valley UDA is poised to see development activity with the adoption of the final development scheme in late 2011.
“The Ripley Valley UDA was declared last October by the Urban Land Development Authority, which forecasts an opportunity to provide approximately 50,000 dwellings to house approximately 120,000 people.
“This area, approximately 5km from the Ipswich CBD and adjacent to existing urban development, covers a total of 4680ha and major developers such as Amex Corporation, Stockland and Sekisui House Australia already have large key holdings in the Ripley Valley UDA,” he added.
Meanwhile Creevey is currently marketing a joint venture opportunity for a 375ha holding at 31-257 Cumner Rd, Ripley — one of Australia’s largest future planned master communities.
He added this is one of the last large land holdings in the area and expects strong interest not only from locally based development groups but from interstate and overseas.
“A preliminary scheme prepared for this area provides potential for 2900 residential dwellings, a major neighbourhood centre, two local centres, a primary school and more than 37ha of open space.
“A range of future employment generators are in the surrounding areas including Swanbank Enterprise Park, Citiswich Business Park, the Ipswich CBD Revitalisation, Springfield Town Centre and the Amberley RAAF Base and Aerospace Precinct,” he continued.
“The Ipswich region in general has seen a significant amount of developer activity in recent years with public development companies such as Stockland, Devine, Investa, Delfin, Mirvac and Australand entering the market,” Creevey concluded.
Expressions of Interest for 31-257 Cumner Rd, Ripley, close at 4pm on Tuesday, September 13, 2011.
Australian Property Journal
