Townsville Turf Club calls for offers on prime city land

Townsville Turf Club has kicked off a marketing campaign to develop prime land on the entrance to the city

THE future use of prime land at the entrance to the city is to be guided by a marketing campaign which has just been launched by Ray White on behalf of Townsville Turf Club.

The land totalling more than 11ha next to the pretty Cluden Park racecourse fronts both the Bruce Highway and the road leading to the western Flinders Highway.

It is being offered with the intent of possible joint ventures, development agreements, acquisitions or tenancy partnerships with the club.

Possible uses include commercial developments like a hotel or caravan park, sporting facilities like a new rugby union venue, a hospital or medical centre and aged care home.

Townsville Turf Club president Malcolm Petrofski said they wanted the market to guide them but one preference was that it deliver the highest value for the club.

“We have been here for 140 years. The underlying intent is to ensure we capitalise on the non-core racing assets to provide financial stability for the Townsville Turf Club for the next 100 years,” Mr Petrofski said.

The project kicked off some two years ago after discussions with former Racing Minister Stirling Hinchliffe and a $250,000 grant through Racing Queensland.

Significant planning and engineering work has been done to ensure the constraints of the site, from both a land use and flood perspective, have been addressed.

Ray White Special Projects Qld and Ray White Commercial Townsville are offering the land, initially through an expressions of interest campaign, to be followed by a request for proposals.

Ray White Commercial Townsville director Troy Townsend said their focus was on generating a variety of options ranging from joint ventures, sales, lease and uses which supported residual income generation for the club.

The club is offering three parcels including a 5.38ha site on the corner of Stuart Drive and Racecourse Rd and two parcels next to the racecourse of 4.33ha and 1.76ha.

Expressions of interest close on December 2. A preferred proponent is hoped to be selected in February next year.

STANTON HILL SITE UP FOR GRABS

ONE of the city’s best development sites is up for grabs and agents hope the city’s booming property market will see it developed for much-needed residential units.

The 2019 sqm holding is at the corner of Hale and Stanley Streets and has been used for short-term accommodation for at least the past 70 years.

Currently, a dwelling on the property is used for the budget bed and breakfast Coral Lodge.

Eproperty Consultants agent Mitch Barnes said the site had development approval for an architecturally designed 39-unit apartment project.

He said the site was fantastic with panoramic views over the city and Cleveland Bay, while residential vacancy rates were extremely low at 0.6 per cent and the CBD was crying out for a larger population base to support its restaurants and bars.

“It’s a really good site within walking distance to the CBD. I think it is paramount that sites like this are developed for the continued economic development of the city,” Mr Barnes said.

Coral Lodge has been operated by John Donovan and Dianne Spence for 25 years.

Mr Donovan said the lodge had had its day.

“We have the site on the market to try and attract the interest of a developer. It seems like Townsville is on the move and this will be a really good addition to the inner-city. It’s a perfect position,” Mr Donovan said.

The council approved a revised plant for a 39-unit project last year.

According to Eproperty Consultants, the building has been designed for the location and includes deep verandas, breezeways and generous landscaping.

It is a dual access site close to Castle Hill and the city’s restaurants, cafes, hotels, night clubs, the stadium and The Strand.

MEDICAL CENTRE SELLS FOR $6.5M

A MEDICAL services building in Hyde Park is set for a major makeover and extension after being acquired by southern investors for around $6.5 million.

The sale involves the two-level Park Haven Medical Centre at 5 Bayswater Road.

Colliers Townsville associate director Neville Smith, who negotiated the deal, said it was big investment into the city by private investors who could see the continuing expansion in a strong performing health sector.

Mr Smith said the city was on the radar of a lot of people seeking a location with a good lifestyle, affordable property and the range of services that Townsville could provide.

“As our market increases in activity more of these specialised health services are coming to Townsville.

“The owners’ vision is to ensure that the Hyde Park health node is retained and that these medical uses are encapsulated here,” Mr Smith said.

The two-level medical centre was developed in 1995. It is adjacent to the Mater Private Women’s and Children’s Hospital, the ICON cancer centre and Queensland X-Ray.

Mr Smith said up to $1 million would be spent on an upgrade with plans to extend the first floor with an additional 440 sqm of floorspace, install a new airconditioning and lift and develop a new building facade.

He said they would be going to the market looking for prospective tenants with sites ranging from about 90 sqm up to 860 sqm on the ground floor.

The building has a net lettable area of 1818 sqm over two levels and 14 lots under a community title held in a single ownership.

The property has 59 basement car parks and 10 ground floor car parks.

Fully tenanted, the property has a projected rental income of about $600,000 per annum.

Originally published as Townsville Turf Club calls for offers on prime city land