The Lutheran Church of Australia Queensland District has sold a cleared, flat Rothwell site near Grace Lutheran College.
The 4.5 hectare Next Generation Neighbourhood zoned parcel, 499-507 Anzac Avenue, is collecting $20.1 million from an as yet undisclosed developer, planning housing.
Also with frontage to Stubbins St, about 300 dwellings could be considered.
Structures could rise four floors, capturing bay views, according to JLL’s Jake Burrowes and Liam Petersen, also former town planners, who declined to comment on buyer or seller.
The result for 499-507 Anzac Avenue sets a record per hectare for engloblo land in the Moreton Bay LGA, the agents said (story continues below).
Fifteen offers came in following an expressions of interest campaign, they added.
The church, which according to public records paid $138,000 just over 30 years ago, undertook several earthworks before listing it; the land previously accommodated a small brick building and satellite.
The deal comes two months since we reported Smorgon Gutman Group sold Barwon Healthcare 15 disability accommodation units on a Footscray site it bought from the Lutherans in 2016, previously the Holy Trinity Church.
Again in Melbourne, in 2018, the not-for-profit banked $29.5m – about 30pc more than expectation – from an apartment developer for Box Hill’s ex-St Paul’s Lutheran Church at 711 Station St, at the north west corner of Elland Avenue.
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