Undeveloped parcel of land in Rothwell earmarked for townhouse development

A church has sold a prime 4.5ha site in a growth area north of Brisbane for a residential estate, wtih plans for 350 dwellings.

An undeveloped residential site north of Brisbane is set to be transformed into a new estate after being snapped up by a local developer.

The 4.5ha site at 499-507 Anzac Ave, Rothwell, sold for $20.1m setting a new englobo benchmark for Moreton Bay Local Government Area.

The deal capped off a highly competitive expressions of interest campaign that drew more than 100 inquiries and 15 bids for the site near the Grace Lutheran College.

The property’s zoning allows for a four-storey height limit which could see up to 350 dwellings – potentially townhouses – built, subject to council approval.

JLL Metropolitan and Regional Land agents Jake Burrowes and Liam Petersen struck the deal on behalf of the vendor, which according to CoreLogic is the Lutheran Church of Australia Queensland District.

The church had owned the site since 1992 which it was purchased for $138,000.

The 4.5ha site at 499-507 Anzac Ave, Rothwell.

Mr Burrowes said the sale reflected the critical role non-Brisbane LGAs would play in tackling Southeast Queensland’s housing undersupply.

“The state government acknowledged in this year’s budget overview that housing supply is unable to keep pace with rising demand,” he said.

“As the population of Queensland continues to grow, it’s essential that we work proactively and strategically to ensure housing supply can meet demand.

“A key part of this is making land available when and how it’s needed.”

This year Mr Burrowes and Mr Petersen struck the biggest deal of its kind in more than 20 years, when the pair brokered the $177m unconditional sale of Coomera Quarter, a masterplanned 4200-dwelling community.

Mr Petersen said they saw the continued strengthening of the non-Brisbane LGA markets including Moreton Bay, Ipswich, the Gold Coast, Logan and the Redlands.

“Under the draft South East Queensland Regional Plan, Thornlands in the Redlands has been

identified for further infill residential development,” he said.

“Elimbah North in the Moreton Bay region has also been earmarked for a move into the urban

footprint. Both are crucial pointers to the role communities outside metropolitan Brisbane will play in meeting the needs of a population base expected to sit at roughly 6 million people in 2046.”