Savills complete transaction of 120 townhouse site in Riverview

Savills complete transaction of 120 townhouse site in Riverview
Savills complete transaction of 120 townhouse site in Riverview

After two years of negotiations, an 18,230 sqm parcel of land located in Riverview has sold.

It transacted for $1.95 million to the adjoining owner.

Located at 19 McEwan Street, the deal was facilitated by Ben Donnelly of Savills, with plans underway for 120 townhouses to be built on an amalgamated site of approximately 25,000 sqm.

Associate Director of Savills Industrial and Business Services, Ben Donnelly, described the transaction as a long process, with the property first taken to market in 2016.

“It was a lengthy process, subject to a Council MCU from Industrial to Residential, however we were able to achieve the desired outcome."

“In addition to the 120 townhouses, the new owner also intends on building a small neighbourhood shopping centre which will increase the desirability & amenity of this new precinct,” Mr Donnelly stated.

The property has 240 meters of frontage to McEwan Street, on the corner of Endeavour Road and Station Street, with access to the Riverview Railway Station.

“Residents of the new Community will benefit from a short commute to both the Ipswich and Brisbane CBDs, with a 10 and 26 minute drive respectively, or alternately a quick & convenient rail commute,” Mr Donnelly added.

Tags: 
Residential Development Riverview

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