Six active bidders have fought it out for a substantial land parcel at Collingwood Park, with the property eventually going for $5.4 million to a Sydney developer.

Designated Residential Low Density, a commanding land area of 27.154 hectares is available across three titles, which had previous (now lapsed) development approval for 238 lots, child care and 2,603 square metres of townhouse use.
 
The site was marketed and sold by Ray White Special Projects Qld Executive Directors Mark Creevey and Tony Williams.
 
Mr Creevey said the active campaign featured a multitude of enquiries coming from a wide array of development groups across the country.
 
“Potential buyers really appreciated the site as one of the last development opportunities in Collingwood Park, and that culminated in us having 12 registered bidders on the day,” he said.
 
“There was some strong competition at the auction, with 31 bids seeing the price rise from the opening bid of $1 million, all the way up to the selling price of $5.4 million.
 
“There wasn’t a seat to be had in the in-rooms as six active bidders became two, and they fought it out until the very end.”
 
Mr Williams said the site was purchased by a Sydney-based private developer that had already worked closely on a number of development options.
 
“The asset is directly opposite Woolworths shopping centre and is surrounded by residential houses and adjoining Woodlinks Estate.
 
“It’s in close proximity to Woodlinks State School, is walking distance to Collingwood Park State School, and is one of the few remaining development opportunities in this precinct.”

Visit the Ray White Special Projects website to view all the properties for sale.

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