Ausbuild snaps up permit-ready townhouse site
Ausbuild has snapped up a two hectare townhouse site in Brisbane’s northern growth corridor while Abri Property has shed an inner city amalgamation.
At Joiner, Ausbuild paid $10.1 million 34-36 Oxford Street, following a public campaign.
“The interest was split between private developers and integrated builder-developers all vying for a foothold in one of the Moreton Bay region’s most constrained and sought after pockets,” Ray White’s Matthew Fritzsche, who brokered the deal with Mark Creevey and Tony Williams, said.
Being shovel ready was the primary driver for the competition, he added.
“The property arrived on the market with an existing Development Approval for 74 architecturally designed townhouses, featuring spacious four-bedroom, two-bathroom, and two-car configurations across three stages,” according to the executive.
The deal comes two months since we reported Ausbuild bought a 2.8ha Bridgeman Downs sit permit-ready for a 33-lot subdivision.
In October it outlaid $40m for a 13.9ha Chambers Flat site with plans for a 141-lot estate.
Oxford Layne
Joyner is about 25 kilometres from Brisbane’s CBD.
“The suburb serves as a critical pressure valve for the region’s growing population, particularly as Moreton Bay continues its trajectory as one of Australia’s fastest-growing regions,” head of Acquisitions, Dean Barwick, said (continues below).
“Ausbuild has wasted no time, lodging an operational works application to commence construction in April,” he added.
To be marketed Oxford Layne, marketing will start mid-next month.
Local developers trade New Farm site
Meanwhile, Abri Property has sold a New Farm development site held five years.
The 1250 sqm amalgamation – a standalone dwelling and small retail complex covering 934-942 Brunswick St – collected $14.5m.
It paid $10.5m.
The incoming owner is another private developer.
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