A $38 million deal could deliver 225 new homes to a rare Logan greenfield site.
The 15.75ha residential site at Park Ridge, Logan was purchased by Urbex in an off-market transaction that highlights the strong demand for quality land in South-East Queensland.
The invitation-only expressions of interest campaign attracted more than 15 formal offers for 95-103, 105-115 and 117-127 Koplick Road, Park Ridge, with a pending approval for 225 lots.
The deal was transacted by Colliers Residential Director Brendan Hogan, Residential Development Site Director Adam Rubie, and Residential Site Sales Executive Kristian Brymora on behalf of CFMG Capital.
Mr Hogan said demand for development sites remained high, with buyer interest driven by undersupplied housing pipelines, and continued confidence in long-term population growth and development in SEQ.
“The campaign’s result reflects the continued strength and price growth of the Logan market, underpinned by continuing demand from developers looking to secure land in this rapidly evolving region,” Mr Hogan said.
“In a market where demand continues to outstrip supply, sites of this quality in SEQ are increasingly hard to find, and the number of offers we saw is proof of just how highly they’re valued.”
Urbex National Acquisition Manager Nic Gilbert said it marked Urbex’s second development in the catchment.
“It is perfectly aligned to our SEQ acquisition strategy,” Mr Gilbert said.
“We have a strong appetite to secure development opportunities in high-growth areas throughout SEQ.”
Mr Rubie said there had been strong growth in land values across Logan, with recent sales setting new price benchmarks.
“Despite broader market headwinds, strategic development opportunities in growth corridors like Logan offer excellent fundamentals, with Urbex perfectly placed to fast track delivery,” Mr Rubie said.
“Brisbane is now recognised as having the best growth prospects of any capital city due to the massive public and private investment in infrastructure and major projects underway.”
The transaction comes as SEQ faces an urgent need for additional housing supply, with State Government forecasts indicating 34,500 new dwellings are required annually to meet ongoing population growth.
Mr Brymora said the acquisition came at a time when Brisbane was experiencing strong population growth, with Brisbane’s vacancy rate sitting at just one per cent.
“The sale underscores the confidence developers have in the growing Logan area as one of the fastest-growing local government areas in Queensland and the scarcity of quality sites within proximity to key infrastructure,” Mr Brymora said.
