A former quarry in a high-growth area north of Brisbane has sold for $23.5 million.
The 19.66ha site at Narangba, 34km north of the Queensland capital, was acquired by local developer Trask Land.
Colliers Queensland’s Adam Rubie said more than 100 enquiries were received for the site at 9-17 Wheaton Street, 200 Mackie Road and 34 Boscoe Road.
“The scarcity of development opportunities of this scale for residential subdivision created strong interest in this property,” Rubie said.
“The site was previously used as a quarry which has since ceased operation, providing a great opportunity for this developer to purchase a significant amount of land and to take advantage of the strong demand for new housing developments.”
Colliers Queensland’s Brendan Hogan said Narangba East has been identified as a Local Development Area Plan for future urban development.
“The property was in demand as it is situated in a high-quality infill location in the northern corridor of Brisbane,” he said.
“Narangba is an established residential neighbourhood with established schools, shops, cafes, restaurants and parks.
“The site is well connected to major highways, infrastructure and public transport amenity, and Narangba Train Station is 250m away.”
