Urgent sale sought for approved housing development
A plot of land with a council-approved, ready-to-go master plan for 42 homes will go under the hammer
Property
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AN URGENT sale is sought on a Raceview development site, which has been granted council approval for a combination of houses and townhouses.
Situated across 47-57 Wildey Street and spanning 4.7 acres, the plot of land has been “master planned” to ensure minimal maintenance and low body corporate fees for future residents.
The current owner secured Ipswich City Council approval that isn’t set to expire until July 28, 2027 and permits the development of three stand-alone houses and 39 townhouses.
The three houses are planned to be low-set while the townhouses are of two-storey designs, each offering three bedrooms.
Ray White sales agent John Galloway said the approval of the master plan, which would roll out the development across three stages, meant the hard work was already done.
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“Sometimes it takes several years to get a development application approved,” Mr Galloway said.
“So this opportunity ideal for someone who is maybe a builder or has connections with a builder.”
With the three stand-alone homes planned for the front of the property and the townhouses to fill the space behind, the complex is free from the kind of amenities that tend to drive up body corporate fees.
“A lot of developments like that have swimming pools, gyms but this one doesn’t have any stuff like that,” Mr Galloway said.
“It just has a communal recreation area but that’s really it. It hasn’t got things that require high maintenance.”
A Brisbane-based developer has decided to sell in order to focus on other aspects of their business.
The development opportunity is set to go to auction at 2.30pm on Friday, 18 December at 81 Limestone St, Ipswich.
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