Iconic North Lakes Site Sold For $3.5 Million

An iconic lakeside building at North Lakes in Brisbane’s outer north has been sold for $3.5 million to a leading Australian development company which plans to be build a boutique hotel and restaurant on the site.

The property at Lot 711 Lakefield Drive, North Lakes was sold off-market to Keymax Property Developers by Ray White Commercial Brisbane Northside’s Robert Rey and Ellie McGovern on behalf of a Melbourne-based family company.

Mr Rey said as well as being one of the most sought after locations in North Lakes, the site had a close connection to the community as the former sales office of developers Lend Lease and Stockland.

“The property has also been the head office of a local retirement village and a café is currently located on part of the site,” he said.

Mr Rey said the approximately 950 sqm building is situated on a land area of 5050 sqm and is the only commercial property in North Lakes located on the shores of Lake Eden.

“It is a truly iconic location and one Keymax have been keen to acquire for some time,” he said.

Ms McGovern said there was great anticipation about Keymax’s plans for the picturesque site as it will be the first hotel in North Lakes, which is approximately 25km north of the Brisbane CBD.

“This will be an exciting development for the North Lakes community which has been screaming out for something like this,” Ms McGovern said.

“The hotel and restaurant will be situated in a beautiful lakeside location. It will be a major attraction for the many young families in the North Lakes area and also for visitors.”

The North Lakes-based Keymax Group has been involved in a diverse range of property developments, investments and projects. It has successfully marketed and managed properties both in Australia and overseas.