New 20ha estate destined for affluent Ipswich suburb
A new housing development is set for the southern border of Augustine Heights.
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A NEW housing development is set for the southern border of Augustine Heights.
The 20.88ha property at 12 Purser Rd has hit the market and is earmarked for about 200 homes according to Ray White Commercial, Queensland agent Tony Williams.
Mr Williams said the property has been held on to by a local family, but due to the changing nature of the area, they're selling up.
"It will mostly be a land estate, we're predicting somewhere in the 160-early two-hundreds lot yield," he said
"It's a family property, the owners have been there for a very long time and they've just made the decision to sell given the action around them.
"It's likely to sell to a mainstream property developer, whether they're mid-sized or larger.
"Literally this is the start of the campaign, we've had it on the market for (a few days) and there's been a pretty good spread of enquiry."
The property is 2.5km from Town Square in Redbank Plains and 1.3km from Augusta State School, as well as located close to Augustine Heights and the greater Springfield area.
Due to the size, southern developers will be interested in the sale, Mr Williams said.
"We always get good enquiry in the western corridor from developers in southeast Queensland and we're getting a fair bit more interest from groups in Sydney and Melbourne."
Mr Williams said the southern developers in Sydney and Melbourne are coming up out of "very hot markets where it's difficult to get land" and looking at southeast Queensland as a "well-priced" area to buy.
"The attitude of the southern buyers is that (western corridor land) is well priced, it's hard to get a parcel of this size," he said.
Mr Williams said the development footprint will be about 11ha and the estate will be supported by new infrastructure such roads running along the northern border of the estate, and new railway infrastructure.
The expressions of interest campaign on the property wraps up on December 3.
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