State finds buyer for Brisbane growth corridor housing site
The state government has found a buyer for a 3.55-hectare Brisbane growth corridor site marketed for its potential to yield c500 dwellings – a mix including apartments and small-lot housing.
Instead the new owner, Azure, will significantly downsize that scheme, this week lodging plans to replace 35 University Drive, Meadowbrook, with 145 terraces.
Next to Griffith University’s Logan campus, the property was offered last year by Economic Development Queensland as a “shovel ready” medium-density development building block.
As part of the deal, the government will construct enabling infrastructure.
The deal comes a week since realestatesource.com.au reported Azure paid $9.5 million for a Cleveland site offered for the first time in 120 years.
It has also lodged plans to replace the holding with 36 dwellings.
Azure is also completing a $72m project, Oakmont, at Brookwater.
Meadowbrook is about 28 kilometres south-east of Brisbane.
Resort-stye project planned
Azure’s University Dve proposal also includes a swimming pool, lounging areas and landscaped gardens.
Founder and managing director Trent Kiernan said the project will add a new type of residential product to the suburb (continues below).
“Meadowbrook has enormous potential but there is currently a clear gap in the market for contemporary, design-led terrace housing,” according to the executive.
“It is an area that enjoys green surrounds, a well-established suburban character and excellent connectivity to both Brisbane and the Gold Coast, but the existing residential market is dominated by older detached homes and lower-quality townhouse developments,” he added.
“Our vision is to create a secure, highly livable community that combines considered architecture, quality landscaping and shared amenity with the convenience of low-maintenance living”.
Most townhouses will contain three bedrooms.
“The proposed development…is expected to appeal to young professional couples, small families, local upgraders and employees working within Meadowbrook’s established health and education precincts with both Logan Hospital and Griffith University, Logan Campus, on your doorstep,” Mr Kiernan said.
“The project will be positioned within the high-demand sub-$1 million market, providing buyers with an opportunity to secure a new, architecturally considered home without the price point typically associated with detached housing in increasingly constrained south-east Queensland markets,” according to the executive.
“Meadowbrook is continuing to evolve and we believe this site is exceptionally well placed to contribute to that next chapter,” he added.
Dwellings are expected to be put to the market early next year.
Subscribe to our newsletter at the bottom of this page.
