Woodgate block eyed by developers

THE sale of a 45ha block in Woodgate could prompt further development in the area, which already has a number of applications for residential units approved.

This sprawling Woodgate home and its 45ha block are up for sale. Picture: Submitted

THE sale of a 45ha block in Woodgate could prompt further development in the area, which already has a number of applications for residential units approved.

The block, at the end of Frizzells Road, has little else on the it apart from a palatial two-storey, 482sq m home.

While the land does not have any preliminary approval for development, Ray White Special Projects Queensland director Mark Creevey said the block's zoning as an urban area meant it would be attractive to developers.

“Given that it is designated as residential and it's located by the beachfront and the national park to one side means that it provides an ideal opportunity for anyone who wants to develop,” he said.

Mr Creevey said there was no longer an asking price and he was now taking offers.

“It is difficult to estimate how much it might sell for, as it is such a unique property and nothing similar has been sold in the region recently,” he said.

The land was last sold in 2002 for $750,000 and has the potential to make millions for the owners, who are returning to their native Britain.

When the property first went on sale in September the asking price was $12.5 million, but that price had dropped to $7 million by April.

Woodgate Ratepayers' Association president John Trevor said if a developer bought the block, a lot depended on the specific plans.

“It depends on how many units,” he said.

“There have been a few of these unit-type developments approved recently, but nothing has happened.”

Mr Trevor said residents had welcomed some developments in the area, but been wary of others.

“The larger sized developments often create a bit of controversy, especially if they are somewhere close to town,” he said.

Woodgate resident Lex McKay said he thought developing the area might be a good idea.

“I can't see any problems with a development. I can see it potentially bringing people to the area,” he said.

“I have no problems with that area being residentially developed, as long as it is done in a sensitive manner.”

Formal offers to buy close on June 30.

Originally published as Woodgate block eyed by developers