Metro swoops on housing estate site
Luke Hartman’s Metro has swooped on a Logan growth corridor site opposite Mirvac’s $1.1 billion Everleigh estate.
Spanning two hectares at 169-187 Teviot Road, Greenbank, it came permit-ready for 39 lots, between 250 and 783 square metres.
Roads have been built and services have been connected.
Metro is paying $15.075 million. It will deliver the estate with Creative Homes.
Greenbank is 27 kilometres south of Brisbane’s CBD.
Also today we are reporting Coles bought a shopping centre site at 150 Teviot Rd from Mirvac.
The deals comes four months after Ausbuild bought 13.9ha at Chambers Flat – 13 km east of Greenbank – for $40m.
That parcel came permit-ready for a 141-lot housing estate.
In September, Urbex outlaid $38m for a 15.75ha holding pending approval for a 225-lot subdivision at Park Ridge, 5 km north of Chambers Flat (continues below).
Another Logan deal
169-187 was offered by Fort Restructuring as Mortgagee in Possession.
Nineteen offers came in, according to the agents, Colliers’ Adam Rubie and Troy Linnane.
Everleigh is one of Brisbane’s largest master-planned estates with a proposed 3450 lots, nearly a third of which have been delivered. Spanning 481 hectares, with commercial components and parkland, completion is scheduled for 2034/2035.
Mr Hartman formed Metro in 2010 with Devine Limited founder David Devine and Ken Woodley.
He bought the partners out just before COVID.
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