Huon Property Group, part of Singapore-based investment company RunningStream Group, has bought a seven-hectare site in the Brisbane middle-ring suburb of Darra for $20 million.  

Huon is planning a residential development for the site, subject to council approval.

Darra is approximately 16km south-west of the Brisbane CBD, and within easy access to Ipswich Motorway and Centenary Highway as well as Oxley and Darra train stations.

The site is currently zoned for low-medium density residential development and has a developable area of approximately 6.5 hectares.

The site, located at 242 Englefield Road, Darra, is leftover from the development of Connectwest Industrial Park, and will be sold as an approved, serviced, cleared and compacted site ready for development. 

“The opportunity to acquire a 7ha vacant residential site within Brisbane LGA is rare, especially when it is located in close proximity to a variety of shopping, educational, community, public transport and recreational facilities," said Tony Williams of Ray White Special Projects.

The property was marketed with an expressions of interest campaign by Brendan Hogan and Adam Rubie of Colliers International, with Mark Creevey and Tony Williams of Ray White Special Projects.

“We received a record of 174 enquiries during the campaign, and 20 offers from a range of private and public groups, based both locally and offshore,” said Hogan.

“The RunningStream Group has over a decade of investment experience in Australia,” said Dan Toh, Chairman of the RunningStream Group. 

“We look forward to providing residents of this community with a positive outcome in terms of quality and price," he said.

“The strength of the middle ring in Brisbane is evident, as we are experiencing unprecedented demand from groups looking for infill development opportunities to build townhouse and land projects," said Adam Rubie.

Read more about Brisbane residential developments:

Court dismisses appeal against Hadid-designed Brisbane towers

$18 billion worth of infrastructure investment for Brisbane

Construction to begin soon on Brisbane residential tower 443 Queen Street