Bolton Clarke purchased a Coorparoo development site for over $10 million
Bolton Clarke has purchased an development site, currently occupied by the Coorparoo RSL, in the inner-Brisbane suburb for over $10,000,000 at 20 Harries Road in Coorparoo.
The property commands a 2,693 sqm corner site with 105m street frontage, and is opposite Coorparoo Square, the $252 million mixed-use development recently completed by heavyweights Fraser Property Australia and Honeycombes Property Group.
The property was marketed and sold exclusively by Ray White Commercial Qld Director and Head of Investment Sales Tom Barr and Ray White Special Projects Qld Executive Director Matthew Fritzsche.
“We received competitive bids from both investors and developers. The developers were primarily contemplating vertical retirement living/aged care and/or residential apartments on the site," Mr Barr said.
“With a short-term leaseback to the Coorparoo RSL, the asset is positioned to capitalise on the future growth and development within the Brisbane south-eastern corridor, in particular the recently completed $250 million* mixed-use Coorparoo Square development (opposite).”
“The site and location offered great development potential with a code accessible height up to 16 storeys with upper levels to incorporate panoramic city views. The popular suburb is only 3km* to the Brisbane CBD and within walking distance to public transport,” Mr Fritzsche said.
Two nearby Coorparoo developments:
1. Maasra Coorparoo
220 Old Cleveland Road, Coorparoo QLD 4151
The $101 million luxury mixed-use building has commenced construction in 2019, built to plans designed by award-winning architecture firm HAL Architects.
Accommodating 102 apartments with flexible layouts. The Coorparoo development will include a staggering 34 three-bedroom and 20 four-bedroom sky homes, as well as a floor dedicated to commercial office space.
The eight-storey development has apartments priced from $435,000 to $1.7 million.
2. The Lodges - Stirrat
Stirrat Street, Coorparoo QLD 4151
Under development by the DiCarlo Property Group The Lodges - Stirrat is a boutique development of fifteen freehold terrace homes.
Incorporating three bedrooms, multiple bathrooms and powder rooms, private balconies, secure garages and spacious living areas, according to the marketing material, "The Lodges - Stirrat offers a premium two or three storey property in a dynamic location with extensive lifestyle, recreational and commercial facilities close by."
Platinum Design Architects.are the designers for the development with Leigh Way Designs doing interiors.
