A MIXED-USE development site in Brisbane’s southwest with approval for homes and a childcare centre has hit the market.
The 8,411sq m site at 70 Fleming Road in Chapel Hill has approval for 17 three-bedroom homes and a 108-place childcare centre with 25 car parks.
The land parcel is currently predominantly vacant, housing just a single detached dwelling on the southern portion of the site.
The property will be taken to the market via an Expressions of Interest campaign run by Christian Sandstrom of Knight Frank on behalf of the vendor, a local investor.
The site is located near a bus stop, retail shops and within walking distance of the Chapel Hill State School, and enjoys more than 70 metres of frontage to Fleming Road.
Mr. Sandstrom said the property would attract interest from a range of builder-developers, as well as childcare operators wanting to capitalise on the strong demand for childcare given the current undersupply.
“Government measures to encourage more women to return to work including childcare subsidies have seen demand for childcare places continue to increase,” he said.
“But the current supply is not meeting demand, with more childcare centres needed.
“Quality residential sites are also sought after in the current market, where home prices are rebounding and a fundamental imbalance between demand and supply remains.”
“This property is one of the last remaining sites approved for townhouses by council in the Brisbane local government area, which will make it even more sought after as developers look to provide more affordable housing options to the market.”
Mr. Sandstrom said the location of the site would also be a drawcard, being an affluent catchment and close to plenty of amenity.
“The site is centrally located within Chapel Hill, approximately 15 kilometres west of the Brisbane CBD, and benefits from close proximity to multiple bus routes accessed via Chapel Hill Road as well as nearby retail amenity including Kenmore Village,” he said.
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