Large piece of land hits the market
A MASSIVE parcel of land in one of the fast-growing areas in the Toowoomba region has hit the market, with developers and land bankers circling.
Ray White has listed the 41-hectare property on Woolmer Rd in Woolmer, near Highfields, for sale through an expressions of interest campaign.
The parcel, which is split into two lots, has an approved development application for 85 lots, averaging 1000sq m.
Ray White Commercial Gold Coast sales specialist Michael Willems said there were several options open to a potential buyer.
“There are two lots available here with option one offering 17.88ha with DA for 85 lots at an average of 1000sq m per block – with the potential for smaller blocks for yield increase,” he said.
“Option two offers 21.67ha of bare land (adjacent to land in option one) available for future subdivision with potential to yield an additional 100-200 housing lots, subject to council approval.
“Option three is the crown jewel option and gives you both lots comprising a total of 41.42ha for current development and a substantial land bank.”
Ray White Toowoomba Range and Highfields principal Tony Franke said the sale would be appealing for investors wanting to either immediately develop the site or sit on it.
“It’s going to be someone who either wants to develop immediately or land bank,” he said.
“It’s a great investment opportunity, considering the current climate.
“Even this week, we’re still busy, because people are believing that bricks and mortar are a safe investment.” For more information, call Tony Franke on 0410 540 005 or Michael Willems on 0412 240 176.