Former Tennis Club Site in Brisbane’s North with Development Approval for Retirement Living up for Sale

A site approved for a retirement living development in Moreton Bay, north of Brisbane, is up for sale.

The 9,825sq m parcel of land at 56 Coman Street in Rothwell is the site of the former Frawleys Tennis Club.

The property, situated 40 minutes north of the Brisbane CBD in the rapidly growing Moreton Bay region, is now approved for 97 retirement units with validity until July 2030.

It is being taken to the market via an Expressions of interest (EOI) campaign run by Sam Biggins and Clem Stack of Knight Frank.

Mr Biggins said 56 Coman Street was expected to attract strong buyer interest, especially given it had been significantly derisked through its retirement living development approval.

“The strength of the current market, and significant undersupply of residential accommodation provides potential to achieve market leading prices for the completed development product,” he said.

“Rothwell has a high surrounding median house price of $875,000, with a large proportion of the population – more than 42 per cent – entering retirement age, underpinning demand for additional senior living and social housing accommodation in the area.

“Zoned specialised centre under the Moreton Bay Regional Plan, alternative uses may also include a medical centre development, quick service retail or similar low-intensity commercial uses, subject to council approval.”

Mr Stack said the property was an expansive landholding in an exceptional location, at the cusp of the Redcliffe Peninsula.

“Rothwell’s location directly services the needs of future retirees and occupiers through its close proximity to healthcare, retail, lifestyle and transport amenities,” he said.

“It is situated within Moreton Bay, which is Queensland’s third fastest growing residential region, with the continued population growth sure to underpin further demand for accommodation and services in the future.”

56 Coman Street is just 1.4 kilometres from the Rothwell train station, 5.5 kilometres from Westfield North Lakes and within six kilometres of the Redcliffe Hospital, which is currently undergoing an expansion.