This article is from the Australian Property Journal archive
NATIONAL developer The Potter Group has acquired 5,840 sqm of industrial land opposite The Prince Charles Hospital that it will turn into a business park with freestanding buildings and warehousing units.
The site at 590 Rode Road Chermside was purchased from Centennial Property Group in a sale negotiated by David Fielding of Castle Property Group.
“We are very pleased to announce this purchase of prime industrial land in a tightly held precinct in the heart of Chermside for approximately $736 per sqm,” company founder and CEO John Potter said.
The Potter Group has been shopping around a nine-title site spanning 3,725 sqm across from the Gold Coast Convention & Exhibition Centre that CEO and founder John Potter put together between 2004 and 2008.
It has approval for a pair of 68-storey tower, with 876 apartments and a retail and office component.
Also on the Gold Coast, the group is also developing 22 strata warehouse and office units opposite the Porsche Centre in Southport’s Ferry Road Plaza precinct for a realisation of $12.6 million, and is transforming the former Billabong headquarters in Burleigh Heads to a mixed-use development with KFC and Starbucks stores. It sold the under construction KFC outlet for $4.2 million earlier this year.
The group is also developing two residential subdivisions in Melbourne’s north totalling over 800 lots. It offloaded a south east Melbourne site for $7.2 million last year, less than 12 months after launching a $19 million residential project.
