Developer lands Brisbane site after 120-year hold
EXCLUSIVE
Azure Group has snapped up a south-east Brisbane site offered for the first time in 120 years.
The 1.06 hectare block, 156-170 Fitzroy Street, Cleveland, cost the local developer $9.5 million.
Ten offers were received following the close of an expressions-of-interest campaign last August. Settlement occurred this year.
The result prices each square metre of developable land at $1037.
A development application is now before Redland City Council for 38 dwellings.
Cleveland is 30 kilometres from Brisbane’s CBD (continues below).
Site set for development
Also exposed to Baypark Court, opposite Henry Ziegenfusz Park, the rectangle-shaped Cleveland holding contains a dwelling at its north edge.
Zoned Urban Residential, it was marketed for its potential to yield townhouses or standalone homes.
All up there is 139 metres of street frontage.
JLL’s Jake Burrowes and Liam Petersen were the agents.
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