A high-profile mixed-use site in one of Brisbane’s fastest growing and emerging suburbs has been listed for sale with Blue Commercial.
The 32,180sq m property, at 46 West Street in Rochedale, is being offered to sale on behalf of vendor, ASX-listed Watpac.
The site is situated within the Town Centre (Precinct 1) of the Rochedale Urban Community Neighbourhood Plan and is further designated with the Community Use (5F) and Mixed Use (5D) sub-precincts.
The strategic site adjoins the new Coles-anchored Rochedale Village scheduled to open in 2019.
Rochedale is undergoing significant new development as a result of the recently-endorsed Neighbourhood Plan, which the site benefits from.
The 46 West Street site offers potential to be developed into a variety of uses given its unique characterisation under the neighbourhood plan.
The classification of the property includes land use categories such as the Town Centre Precinct, Mixed Use Precinct and the Community Use Precinct which collectively comprises approximately 13,250sq m of the site, while also facilitating a range of centre activities including food and drink outlets, child care as well as multiple dwellings.
The diverse neighbourhood plan categorisation of the site promotes strong potential for a range of development outcomes in the one area.
Locally, listed-developer Mirvac recently acquired an eight hectare property for $30 million in an off-market transaction to develop a 140-lot subdivision.
Mirvac joins other developers, including ASX-listed PEET and Goodman Group and local developer Azure, Pask Group and Aveo Group in the area.
Strategically located 14 kilometres south of the Brisbane CBD in close proximity to the Gateway, Pacific and Logan Motorways, Rochedale was recently named Brisbane’s latest ‘million dollar suburb’ by CoreLogic thanks to the area’s seven-figure median house price.
The site is also closely linked to nearby schools including Rochedale State School and Redeemer Lutheran College.
Other nearby employment includes Rochedale Motorway Estate, Brisbane Technology Park, QEII Jubilee Hospital and Westfield Garden City.
The site is being offered for sale through an Expression of Interest campaign closing 4pm Wednesday 12 December 2018.