Private syndicate buys Collingwood Park site for $11.08M

A PRIVATE Brisbane syndicate has snapped up an approved Collingwood Park development site off-market for $11.08M at Cairns Street.

The asset, which comprised a substantial 39.26ha* land area, was in the heart of the Western Growth Corridor and was purchased before it had a chance to hit the market.

The site was sold by Ray White Special Projects Queensland Executive Directors Tony Williams and Mark Creevey.

Mr Williams said the site carried a development approval for 277 lots, with the contract allowing early access to the property, that ensured the purchaser could get underway with construction.

“What the private Brisbane syndicate have been able to achieve in the last few months is remarkable, they’re making excellent progress on the site,” Mr Williams said.

“29 per cent of the lots within the estate are 700sq m* or larger, with lots ranging in size from 316sq m* to 5,573sq m* providing a broad price range and product diversity.

“We were ready to take the asset to market, but before we could even make it public, there was an offer made that worked for both buyer and vendor.”

Mr Creevey said Collingwood Park was an established area and it was a great time to be developing in the Western Growth Corridor.

“The site benefits from being directly next to Woodlinks State Primary School and is just 1km* from the Collingwood Park Woolworths,” Mr Creevey said.

“There’s easy access to Springfield Central, is just 30km* from the Brisbane CBD and only 15* minutes to the RAAF Base Annerley.

“It’ll be an exciting place for families, couples and singles alike to live, once development is completed on the site.”

*Approximately.