This article is from the Australian Property Journal archive
DEVELOPER Villa World has bought a residential development potential at Park Ridge in Brisbane’s south for $6.75 million.
The site is a consolidation of two properties, with a land area totalling 8.605ha located at 13 Koplick Rd and 575 Chambers Flat Rd Park Ridge.
The property was sold by Ray White Special Projects QLD’s Matthew Fritzsche.
Fritzsche said the sites were sold in an off-market transaction on behalf of a private local developer.
“These sites are on a corner position with three street frontage and are located near Frasers Property Australia’s ‘The Rise Estate’ in Park Ridge,” Fritzsche said.
“The adjoining properties are currently zoned ‘emerging community’ which allows for residential development under the Park Ridge structure plan. There is a concept plan of a subdivision prepared by the vendor displaying a yield of 182 lots,” he added.
Fritzsche said the residential land market in south east Queensland, particularly around Logan City, continues to be a strong performer.
Australian Property Journal
