This article is from the Australian Property Journal archive
A PRIVATE local developer has paid $1.45 million for a development in Townsville in a deal negotiated by Jones Lang LaSalle.
JLL’s Michael Walsh and Ben McGrath sold the property at 20 Palmer St on behalf of receivers & managers, Deloitte.
The 3,908 sqm development site has an existing approval for a mixed-use project with 66 apartments and 2,000 retail and/or commercial space. The buyer intends to develop the site over the medium term.
Walsh said the property was sold under the hammer at a public auction on-site, with competitive bidding from four registered parties.
The sale price represents $371 per sqm.
Property Review
