Developer interest for pioneer family farm

A historic mango and banana farm north of Brisbane, which belongs to one of the region’s early settler families, will go up for auction later this month as developers circle.

214-264 Raynbird Rd, Narangba will go up for auction on August 28 2019. It is near a growth corridor north of Brisbane.

A MAJOR parcel land next to a growth corridor north of Brisbane, previously owned by one of the region’s earliest settlers, will go to auction this month.

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The 48 ha property at 214-264 Raynbird Rd, Narangba will go under the hammer with agent Colliers International — Brisbane on August 28.

The land has never been sold before, having been in the Schulz family for at least 80 years. Old Caboolture Shire Council records show the family was in the region as early as 1927.

It falls within the Moreton Bay Regional Council, which is one of the fastest growing local government areas in Australia.

214-264 Raynbird Rd, Narangba is owned by early settlers, the Schulz family.

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The property adjoins the 1200-home Oxmar Properties Narangba Heights Estate, which is currently under construction, but falls just outside the State Government’s urban footprint.

Agent Peter Uebergang said while there are challenges, including its current zoning and a set of power lines that run through the estate, it would attract buyers from all walks.

“We’re expecting several audiences; land developers, land bankers, or even an astute hobby farmer,” Mr Uebergang said.

“It’s close to Brisbane and the Sunshine Coast, it’s very picturesque.

“You can see the Glasshouse Mountains, you can see sand dunes of Moreton Island and the sprawl of Brisbane from the deck.

“It has huge potential for green space. It has water dams, irrigation for the banana trees onsite, quiet undulated hills and green grass good enough for cattle feed.”

214-264 Raynbird Rd, Narangba is currently used for mango and banana crops.

The property was key dairy farmland, but was mostly used for mangoes and bananas by Roy Edward Schulz, who passed away recently.

His parents Edward Friedrich Wilhelm and Minnie Schulz owned the farm before him and it was reportedly part of a much larger property closer to 500 ha.

The land has three access roads, one being Schulz Rd, named after the settlor family.

Mr Uebergang said the three grandsons are now keen to sell the land to prospective buyer.

Oxmar Properties Owner Phil Murphy said he is interested in the property for further expansion, but he is hesitant due to zoning issues.

“There’s an interest, but I’m not sure what that interest is at the minute because of the state mapping,” he said. “I’ve had two agents call me — they’re looking for a developer to buy.

“At this point in time it can’t be developed because it’s outside the urban footprint. The State Government would have to change mapping.”

Satterley Property Group paid $35 million for 40 ha of residential land only 2km away to build the Ridgeview Estate.

The land is currently zoned as rural and farming under the Moreton Bay Regional Council Planning Scheme.

The parcel is also 2km down the road from the 620-home Satterley Property Group Ridgeway Estate, which is now selling Stage 1.

Satterley bought the 40 ha site for $35 million from Dundale Developments in December 2018, which was zoned Next Generation Residential at the time of sale.

The company is Australia’s largest private residential land developer.

CEO Nigel Satterley would not say if he had interest in the site, but said Narangba was a growth corridor.

“It’s very popular for young families and because of the train line and so many services and amenities including North Lakes Town Centre and schools,” he said.

The nearby Narangba East is earmarked by both the council and State Government as an emerging ubran development area.