PRIME TSS SITE HITS THE MARKET

A SOUTHPORT investor is cutting ties with a key development site within The Southport School precinct.

The three-lot property, at 11-15 Egerton St, is being sold by Brown Age Care, linked to Morton Brown, which acquired the 3650sq m parcel for a total outlay of $2.875 million in 2016. Colliers International’s Geoff Lamb and James Holland are marketing the property.

Mr Lamb said the land has current development approvals for either a 60-bed aged-care facility over the three lots, or 10 townhomes on two lots plus the third lot with an existing house.

“The change to the current town plan won’t allow anything less than large-lot residential homes to be built in the future in the precinct, so this is the last opportunity to secure land where you can build townhomes,” Mr Lamb said.

An expressions of interest campaign closes on August 1.