Coorparoo RSL land for sale with potential for 16-storey tower
After years battling for a financially stable future a local RSL sub branch has put its property on the market with sources saying it could be worth up to $10m with plans for a 16-storey tower.
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After years battling for a financially stable future a local RSL sub branch has put its property on the market.
The Coorparoo RSL & Community Club has been on a 2693sq m site one corner of Harries Rd and Holdsworth St since 1962 is being sold with a potential for a 16-storey residential tower on the site.
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Industry sources say it could sell for up to $10 million.
In 2018 the RSL sub-branch told The Courier-Mail that the redevelopment and possible sale of the site was the “only way forward”.
At the time they were looking at their options including a joint venture with developers that was “hand and glove with the sub-branch idea”.
Ray White Commercial’s Tom Barr, who is running the expressions of interest campaign with Ray White Special Projects’ Matthew Fritzsche, said any sale could include a short-term lease back to the sub-branch and the incorporation of the organisation within the development scheme.
“They’re seeking to realise what is an enormously under-utilised property for that area,” he said.
“It’s a tired building with an old fit-out which isn’t suitable for the club which wants to look to the future.”
“Potential development opportunities include residential apartments, build-to-rent, student accommodation, vertical retirement living/aged care, medical, commercial and retail.
The property is at the centre of Coorparoo’s major lifestyle and amenity precinct, incorporating Aldi, Woolworths, Coles, Dendy Cinemas, bowls club, medical and a multitude of cafes and restaurants
