Trask Land lodges DA for 351 residential lots on 24.55ha site
A 24.55-hectare residential subdivision site in Brisbane’s high-growth Moreton Bay region has sold for $34 million to developer Trask Land, with a development application lodged for 351 residential lots (subject to council approval).
The property, located at 281–323 Petersen Road and 13–37 J Dobson Road, Morayfield, was transacted by Colliers Residential Development Sites Directors Adam Rubie and Brendan Hogan on behalf of Turrisi Properties.
Positioned within the rapidly expanding suburb of Morayfield—approximately 39 kilometres north of the Brisbane CBD and 41 kilometres south-west of the Sunshine Coast—the site offers scale and near-term development potential in a constrained land supply environment.
Colliers Residential Development Sites Director Adam Rubie said the transaction highlights continued demand for development-ready land across South East Queensland.
“Opportunities to secure well-located, zoned land capable of delivering housing in the near term are increasingly limited across South East Queensland,” Adam Rubie said.
“This was a rare offering of scale in a supply-constrained market. Trask Land has secured a strategically located site that will help bring much-needed new housing to market at a time of intensifying supply pressures.
“The site’s proximity to established retail and lifestyle amenity, quality education facilities, public transport and major road infrastructure underpinned strong buyer interest throughout the campaign.”
Trask Land Director David Trask said the acquisition aligns with the family company’s forward outlook of delivery for master planned developments for families in growth areas with Trask having already delivered about 1,000 lots in the locality.
“Trask Land continues to increase its portfolio in the Moreton Bay Region, having undertaken its development business for the last 30 years within the bounds of what is now Moreton Bay,” David Trask said.
Colliers Residential Development Sites Director Brendan Hogan said the scale of the offering was a key factor driving competitive interest.
“Population growth across South East Queensland continues to accelerate, yet the supply of development-ready land has not kept pace,” Brendan Hogan said.
“The region requires an estimated 34,500 new dwellings annually to meet forecast population growth, underscoring the critical importance of projects such as this in addressing housing demand.”
The development application for 351 residential lots has been lodged and is currently subject to council approval.
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