Council sells newly formed block
Brisbane City Council has sold a block of land created from a Moggill Road realignment, at Indooroopilly.
The 4637 square metre irregular shaped parcel, Lot 1, Moggill Rd, collected $10.55 million from a developer.
Neighbouring Indooroopilly Shopping Centre – Australia’s 19th largest mall – a high density residential based mixed-use project is planned.
“This site sits at one of Brisbane’s busiest intersections with around 55,000 cars passing daily,” Knight Frank’s Blake Goddard, who brokered the deal with Christian Sandstrom, said.
“The centre is a hub for public transport including bus and train services while the site is also well connected to major road networks ensuring easy access for future residents,” he added.
Lot 1, Moggill Road
Ten offers came in, the agents said, from a mix of residential developers and commercial users.
Office, retail or an essential services related business like a medical complex or childcare centre could occupy, Mr Sandstrom added.
“We saw strong interest from a range of developers, which reflects the scarcity of redevelopment opportunities in Brisbane’s western corridor,” according to the executive.
“The purchaser’s intent to deliver a residential scheme aligns well with the site’s zoning and surrounding amenity”.
Indooroopilly is about seven kilometres from Brisbane’s CBD.
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