City of Gold Coast has paid $12.8 million for an enormous block at the municipality’s northern outskirts – with plans to convert it into sports and recreation fields.
The 85 hectare farm at 396 Stanmore Road, Yatala, is mid-way between the Gold Coast and Brisbane (both are about 40 kilometres away – or a 35 minute drive).
It forms part of a semi-rural region of about six kilometres defined as separating metropolitan Brisbane and the Gold Coast city.
Much of this land is being replaced with industrial supply.
The Yatala property has 900 metres of frontage to the Albert River and 1.3 kilometres to the road.
Offered as part of a deceased estate, it was for generations controlled by the Enkelmann family which settled on 396 Stanmore Road in the 1800s.
It was feared the site could fall into the hands of an industrial builder – something the creators of this anti-development website lobbied against.
The Enkelmann land is zoned for low impact industrial development.
It is near the Yatala Enterprise Area (YEA) – marketed as “the industrial engine room of the Gold Coast” with the potential to employ 40,000 people.
YEA is the largest zoned industrial land area in the City of Gold Coast.
Colliers international’s Daniel Coburn managed an expressions of interest campaign for 396 Stanmore Road.
The agent said the property generated interest from a range of developers and occupiers.
Joe Welch of Hickey Lawyers was the estate executor.
Sale proceeds will go to a charitable foundation set up in memory of the Enkelmann family.