Logan Development Site Sells for $8.3M as Ausbuild Plans 37-Home Community

Seven offers for 2.02ha site highlight competition for tightly held Logan residential development land

A 2.02-hectare development site in Brisbane’s booming Logan corridor has sold for $8.3 million to residential developer Ausbuild, which has lodged plans for a 37-home community.

Colliers residential experts Adam Rubie and Kristian Brymora secured the sale of 1-17 Pelham Street, Logan Reserve, on behalf of a private vendor through an invitation-only, off-market expressions of interest campaign that attracted seven offers.

The level of competition comes as Logan faces significant population growth and increasing pressure to deliver new housing, with the proposed Ausbuild project set to add 37 new homes to one of South East Queensland’s major growth corridors.

Colliers Residential Site Sales Director Adam Rubie said the strong level of competition for the property reflected the increasing scarcity of quality residential development land across South East Queensland.

“Seven offers for an off-market campaign is a very strong result and reflects just how competitive the market has become for quality infill sites,” Mr Rubie said.

“Ausbuild has secured a strategically located site which will add to their pipeline in the broader Logan corridor.

“South East Queensland requires an estimated 34,500 new dwellings annually to meet forecast population growth, and as one of Australia’s largest and fastest-growing cities, Logan has a key role to play in accommodating this growth.”

The Queensland Government’s ShapingSEQ 2023 plan forecasts Logan will need to increase its housing stock from 125,700 dwellings in 2021 to 173,600 by 2031 – requiring 47,900 additional dwellings over the decade.

Ausbuild Head of Acquisitions Dean Barwick said, “This acquisition reinforces Ausbuild’s commitment to delivering high-quality residential communities in key growth corridors across South East Queensland.

“Logan Reserve continues to benefit from strong population growth, established infrastructure, and increasing demand for new housing, making it an attractive location for future development.”

Colliers Residential Site Sales Executive Kristian Brymora said the sale highlighted continued investor and developer appetite for residential development sites in Logan.

“This was a rare offering in a supply-constrained market and attracted significant interest despite being offered exclusively off-market,” Kristian Brymora said.

“We are seeing continued interest across SEQ for well-located, infill opportunities, such as this Logan Reserve offering.”