Major Development Site Sold

Major Development Site Sold

A potential redevelopment site at Morningside in Brisbane’s east has been sold by Ray White Special Projects Queensland.

The site of the former Seven Hills TAFE at 110 Darcy Road, Morningside, was sold for an undisclosed sum to a private South East Queensland-based development group by Ray White Special Projects Queensland Directors Mark Creevey and Tony Williams.

Mr Williams said the 9.315ha site was offered for sale by Southbank Institute of Technology, which no longer required the property having consolidated its facilities at its South Bank campus.

He said the site has been included in the draft River Gateway Neighbourhood Plan for residential development.

“The buyers are proposing to undertake a high quality master planned development in keeping with the desired outcomes of the draft River Gateway Neighbourhood Plan,” Mr Williams said.

“They are looking forward to working closely with the Brisbane City Council and local residents to ensure the proposed redevelopment meets the needs of the market and local community.”

Mr Creevey said the tender campaign for the former TAFE site attracted strong interest.

“This is an impressive infill site in a popular well established area approximately 5km east of the Brisbane CBD,” he said.

“There was considerable interest generated from the sale campaign from a number of parties including private groups, public companies and some of the country’s most prominent development groups.

“The site is an elevated position with three-street frontage and is close to a local primary school as well as bus and rail links.”