This article is from the Australian Property Journal archive
TWO Melbourne groups will redevelop respective south-east Queensland sites into state-of-the-art aged care facilities, after deals worth a combined $10.75 million.
Ray White Special Projects agents Tony Williams, Mark Creevey and Matthew Fritzsche handled the sales.
In an off-market deal, the 2.9-hectare 164 River Hills Road property sold to an aged care operator for $4 million. That was followed by a Melbourne-based aged care group paying $6.75 million for a 6,000 sqm parcel on Griffith Place in Seven Hills.
Williams said the Eagleby asset sold following a specifically targeted campaign that put vendor and purchaser together.
“The site is in the active Brisbane and Gold Coast corridor, and whilst approved for 84 three-bedroom townhouses, the incoming buyer intends to develop the site into an aged care facility.”
It is a short distance from Eagleby Plaza Shopping Centre and the Pacific Motorway, offering direct access to Brisbane CBD and Gold Coast. Trojan Property Developments was the vendor.
Arcare Pty Ltd bought the Seven Hills parcel in inner Brisbane is Zoned Community Use and within the Clearview Urban Village project.
The Melbourne-based purchaser has proposed delivering a two-level, 107-bed aged care facility over two levels. Development application for ROL was lodged soon after the contract date. The site was not offered with development approval.
