Ray White Special Projects (QLD) Director Matthew Fritzsche has sold the deceased estate to Ekkopoint Properties after plenty of interest.
The Bridgeman Downs development site at 229 Graham Road, has found a new owner in Ekkopoint Properties at an agreed price of 6,200,000.
The property was marketed and sold by Ray White Special Projects (QLD) Director Matthew Fritzsche.
Mr Fritzsche said the asset was contracted at the end of 2018, and subsequently gained approval for 27 residential allotments prior to settlement in 2019.
“There was a huge amount of interest in this development site and we registered more than 100 enquiries and 12 offers were presented,” said Mr Fritzsche.
“The enquiries were predominantly from South East Queensland, however, there was also strong interest from interstate buyers.
“There was a mixture of both builders and developers, and private development groups.
Bridgeman Downs is just 15km from the Brisbane CBD and is characterised as a strong owner-occupier market for house and land, with the suburb traditionally characterised by affluent acreage style properties.
Mr Fritzsche said developable acreage properties are very competitively sought-after, particularly for those sites that are relatively unconstrained.
“Further, we see diminishing greenfield land supply being a major factor contributing to strong on-going development interest throughout Brisbane moving forward," said Mr Fritzsche.
“In general, we're experiencing positive market sentiment moving into 2020, and sales such as this underline the strength of the Brisbane market.”
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