Two residential development sites with the potential for more than 500 lots are on the blocks in Cairns.
They are Lot 2 and Lot 4, Mount Peter Road, Mount Peter.
Lot 2 comprises 38.58ha with a draft development scheme for 440 lots and Lot 4 comprises 5.9ha with development approval for 79 lots.
They are being brought to market by Ray White Special Projects agents Andrew Burke and Matthew Fritzsche, and Property Shop agent Ben Johnston, who said the property would suit residential land developers and land bankers.
Burke said there were limited opportunities to purchase in Cairns’ only residential growth corridor.
“There is actually not a lot of residential land supply in the city, restricted by lack of designated zoning, services and physical topography of Cairns—mountains in the west and ocean to the east,” he said.
“This is quite literally one of few chunks of land for sale in the market, with lots in new housing estates selling at very fast rates in recent times.”
Burke said the lots were surrounded by successful residential estates including Mount Peter Estate and Rocky Creek Estate.
The lots are also close to existing and planned schools.
Johnston said there has never been a better time to invest in the Cairns region.
“It’s a red-hot housing market which still has legs as the economy is now re-emerging from quiet times during Covid,” he said.
“Tourists are now back in Cairns to drive the economy further.”
The property is being sold via expressions of interest closing May 31 at 4pm.
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