Corridors of growth crank up as developers drive big push into Brisbane outskirts

A huge development push is underway in the burgeoning outskirts of Brisbane as the city’s latest growth spurt gains momentum.

Sam Byrne from JLL, who negotiated the sale of the development site at 20 Ford Rd, Rochedale. Picture: AAP/Megan Slade

A BIG development push is underway in the burgeoning outskirts of Brisbane as the city’s latest growth spurt gains momentum.

Strengthening demand for development sites from local, interstate and offshore groups is driving increased activity across the outer suburbs.

It comes off the back of Queensland last year overtaking Victoria as the nation’s interstate migration capital.

The majority of the developer interest is focused on the city’s northern and southern corridors due to the key factors of affordability and lifestyle.

In a recently-settled deal, a large development site in Rochedale — held by a local family for more than 27 years — has changed hands for $10.8 million.

The 4.069ha parcel of land at 20 Ford Rd was taken to market late last year via an expressions of interest campaign.

It has been snapped up by privately-owned residential aged care and retirement living operator TriCare in a deal brokered by JLL’s Sam Byrne.

“TriCare moved swiftly to acquire the land holding, which neighbours their proposed retirement community,” he said.

Mr Byrne said the property attracted significant interest with more than 80 inquiries fielded from local, interstate and offshore developers resulting in five “competitive” bids.

“Obviously, there is still a good level of transactions also occurring in the northern corridor but there is a clear focus from groups looking in that southern corridor in areas like Rochedale, Logan and the northern Gold Coast,” Mr Byrne said.

“From a national perspective, there’s a bit of a story unfolding in terms of residential demand and pricing at the moment.

“But we expect the increased demand, particularly for decent sites within that southern corridor, will remain consistent for at least the next 12 to 18 months.”

Mr Byrne said Rochedale had been undergoing a major transformation with multiple new housing estates proposed and completed focusing further attention on the area.

“There are many domestic and offshore developers with active mandates to enter the Rochedale market, looking to capitalise on the strong demand for land and new houses within the suburb,” he said.