Off-market transaction achieves $15.29 million sale price
Leading South East Queensland community builder Ausbuild has acquired two adjoining land parcels in Brisbane’s northern corridor for a suburb-record price of $15.29 million.
JLL’s Liam Petersen and Jake Burrowes negotiated the off-market sale of 260 and 280 Ridley Road, Bridgeman Downs, on behalf of a private vendor.
The combined 2.18-hectare site was sold with development approval in place for a 33-lot residential subdivision. The transaction achieved a suburb-record land rate of $758 per square metre, equating to approximately $463,333 per lot.
Mr Petersen said the sale positions Ausbuild to contribute to Brisbane’s much-needed housing supply.
“This transaction reflects the sustained strength of buyer demand across Brisbane’s northern growth corridor,” he said.
“Developers and homebuyers alike are continuing to compete for well-located land, driving values higher and reinforcing the critical need for new residential supply to meet population growth.”
Mr Petersen said strong competition continues to define the residential land market in South East Queensland.
“We’re seeing exceptional depth of capital pursuing development-ready landholdings, particularly those with approvals in place,” he said.
“Sites like Ridley Road remain highly sought after due to their proximity to amenities, established infrastructure, and limited availability of comparable parcels.”
Ausbuild Head of Acquisitions Dean Barwick said the acquisition aligns with the company’s strategic focus on securing premium, infill development opportunities in established, well-connected suburbs.
“As one of South East Queensland’s leading community builders, we’re focused on creating thoughtfully designed communities in locations where families genuinely want to live – close to quality schools, established amenities, and key transport links,” Mr Barwick said.
“Our 2024 Grevillea development established a strong presence in Bridgeman Downs, and this Ridley Road acquisition represents a strategic expansion of our operations within the suburb and our confidence in the northern corridor where demand remains strong.
“This site will enable us to continue delivering homes that offer families the space, amenity, and connectivity that defines quality living in established Brisbane suburbs.”
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