Plans for Housing Development in Brisbane Northside Suburb After Site Sells for $13 Million | JLL

A sale at Taigum marks the biggest development site transaction in the suburb’s history

“This property garnered a lot of attention as it is in an established catchment close to a residential population, a variety of schools and rail and bus connectivity,” he said.

“The site comprises both vacant land and land occupied by a small unused church, house, and car park. Given its position and suitability for a variety of development types, the property attracted a lot of interest.  

“The local developer who purchased the site won’t be using the current Development Approval and will instead be repurposing the entirety of the site solely for residential development, which will help to ease some of the current housing pressure in the area.”

Mr Petersen said the sale price of $13 million was a nod to the area’s growing appeal.

“There’s increasing demand for development sites just outside the city and being located approximately 13 kilometres north of the Brisbane CBD made this one highly sought-after, he said.

“It’s in a great position with approximately 135 metres of frontage onto Beams Road and is close to public transport corridors and residential areas too, not to mention being adjacent to the Taigum Square shopping centre.

“It was a great outcome as the local developer who snapped up the site has a vision to build townhouse dwellings for the community.”

Mr Galloway said the level of interest during the expressions of interest campaign reflected the demand for quality infill sites.

“We received nine strong bids for this asset, which shows the depth of demand for well-located residential development opportunities in Brisbane. The decision by the purchaser to pivot to a residential scheme highlights the ongoing strength of the housing market and the need for new supply in established suburbs like Taigum,” he said.