Eagleby and Seven Hills sites sell for combined $10.75M

TWO aged care sites in Eagleby and Seven Hills have sold for a combined $10.75M with both parcels set to be developed into state-of-the-art aged care facilities.

In an off-market deal, the 164 River Hills Road 2.9ha* development site in Eagleby was sold to an aged care operator for $4M.

That deal was swiftly followed by the 6,000sq m* parcel in Seven Hills selling to a Melbourne-based aged care group for $6.75M at Griffith Place.

The assets were sold by Ray White Special Projects Queensland directors Tony Williams, Mark Creevey and Matthew Fritzsche.

Mr Williams said the Eagleby asset was 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,” Mr Williams said.

“The near-level site offers frontage to, and access from, River Hills Road connecting to the commercial centre of Eagleby.

“It’s also only 300m* to Eagleby Plaza Shopping Centre and 2km* from the Pacific Motorway, offering direct access to Brisbane CBD and Gold Coast.”

Mr Creevey said the Seven Hills parcel was a vacant development site that was only 4.5km* east of the Brisbane CBD.

“Zoned Community Use, the 6,000sq m* site is in the Seven Hills masterplanned Clearview Urban Village project,” Mr Creevey said.

“The Melbourne-based purchaser has since proposed delivering a 107-bed aged care facility over two levels.

“Development application for ROL was lodged soon after the contract date, although the sale wasn’t subject to any development approval.”

*Approximately.