This article is from the Australian Property Journal archive
LOCAL developer Kenlynn Properties Australia has paid $4 million for a residential development site at New Farm in inner Brisbane.
The approximately 1,350 sqm site at 288-302 Bowen Terrace New Farm was sold by Ray White Special Projects (QLD) directors Mark Creevey and Tony Williams on behalf of a local syndicate.
Creevey said the expression of interest campaign attracted considerable interest, due to the site holding a permit for seven detached single unit freehold dwellings,
“We alerted our database of residential developers to this property and we had 124 enquiries and 12 offers to purchase.
“Demand for the site has been driven by an ongoing trend in the market from developers seeking to provide smaller more boutique projects aimed at the owner occupier market,” he said.
Australian Property Journal
