This article is from the Australian Property Journal archive
LOCAL developer Oxmar Properties has secured one of the last available residential development sites at Griffin in Queensland Moreton Bay region for $18.25 million.
The site which spans 15.44ha over three lots was sold by Colliers International’s Brendan Hogan and Pat George on behalf of RSL Care Limited.
The agents said the sale set a new benchmark for the land prices in the region, at a rate of $1.18 million per hectare. The site is located between Dohles Rocks Rd and Wagner Rd in Griffin, approximately 22kms north of Brisbane CBD.
Hogan said the property was keenly contested due to it being an outstanding development opportunity.
“Being one of the last available greenfield sites in Griffin, it attracted nine offers from a range of public, private and offshore groups. The vacant land price in the suburb of Griffin has significantly increased over the recent period, which is consistent with the strong population growth in the area.
“The buyer Oxmar is a local based developer who understands this value proposition as they are already active throughout the Moreton Bay region,” he added.
Oxmar Properties has lodged a development application for a residential community.
Australian Property Journal
