Flagstone development site in Queensland sells for $1.4 million

A 5,546sqm development site in Flagstone, Queensland for $1,386,500 plus GST.

A local syndicate has purchased the property from PEET.

Located at Stage 7I, Commercial Circuit, Flagstone is a Peet Masterplan community bringing 12,000 homes and about 30,000 residents to Flagstone over the next 25 years. 

Flagstone will also include a city centre comprising of 126 hectares of retail and office floor space with the proposed passenger rail service running through the middle.

The deal was negotiated by Will Carman and James Stevenson of Savills Australia who said the buyer believed in Flagstone and the future growth of the suburb. 

“The zoning allowed for multiple code assessable uses, they are initially land banking the property and dealing with tenant requirements as they see fit,” said Mr Carman.

The Flagstone catchment has a project population growth rate of 4.1%pa which represents an average increase of 6,633 residents per year

The site is within walking distance to major retailers, including Coles, McDonalds, 7Eleven, IGA, SNAP fitness and Dominos and 35 metres to Commercial Circuit.