PHILANTHROPIC GROUP SELL SITE

THE sale of a Coomera land parcel to a Brisbane developer has settled.

The 187-195 Foxwell Rd property was sold by Australian philanthropic foundation, the Ian Potter Foundation, for $9.9 million (inclusive of GST) to Brisbane-based developer Silverstone Developments, which is planning a residential subdivision on the site. The property was owned by inventor and philanthropist George Alexander, who gave it to the foundation upon his death in 2008.

The marketing agents were Lachlan Harris and Mason Kidman of Avanti Commercial.