A large development site for sale in Townsville’s city centre with direct river frontage and suitable for a mixed-use development. The 1.04 ha serviced developable land, known as Central Englobo at 534 Flinders Street Townsville for sale via a tender campaign run by Paul Dury and Christian Sandstrom of Knight Frank.

It is being sold by Honeycombes Property Group, with price expectations in excess of $5 million.

The site is fully serviced, including access and adjacent car parking, and is capable of subdivision for mixed-use or can be developed as a single site.

At a Glance:

• A 1.04ha parcel of serviced developable land, known as Central Englobo at 534 Flinders Street in the Townsville CBD, is up for sale

• The property is being sold via a tender campaign run by Knight Frank on behalf of Honeycombes Property Group

• The opportunity to purchase the site is rare, due to its location in the Townsville CBD and on the riverfront, as well as being situated within the Townsville Waterfront PDA, which comes with development privileges. 

Mr Dury said the opportunity to purchase this high-quality developable parcel was a very rare one, with interest coming from both local groups and from further afield, including elsewhere in Queensland and interstate.

“Larger development sites in central city locations with several points of access and with services and amenity already provided are very rare,” he said.

“This is the only vacant waterfront site available for development in northern Australia.

“This is one of the very few privately owned parcels fully located within the Townsville Waterfront Priority Development Area and is surrounded by modern high-profile commercial and residential developments.

“The new Queensland Country Bank Stadium, which has 25,000 seats, is situated directly opposite on Ross Creek.

“It is also situated in a mature retail and office environment, with surrounding occupants including the ATO, Knight Frank, Central Queensland University and News Ltd.”

Mr Sandstrom said 534 Flinders Street offered the best opportunity for new development in a region thriving with major new private and public sector Investment including the Port of Townsville, the Townsville University Hospital and Townsville Lavarack Barracks.

“As the largest city in northern Australia and a diverse major regional economy, Townsville is particularly well placed for economic and population growth over the coming decade.”

Mr Dury said the Flinders Street site was suitable for residential and commercial uses, with the benefit of the Townsville Waterfront Priority Development Area (PDA) development privileges.

The parcel is capable of forming a series of mixed-use development sites, benefitting from a building height of up to 12 levels, established service infrastructure with immediate capacity, established road entry from Flinders Street and Finsbury Place supporting immediate subdivision, established public parking areas and creekside pathways and the Townsville City Deal intergovernmental support, he said.

“It is within ‘Precinct 1 – City Waterfront Gateway’ in the Waterfront PDA, and the PDA indicates the development preferences in this Precinct are high-density accommodation, business and centre activities, educational establishments and entertainment activities.”

Uses that fit within the development preferences for the area and directly benefit from the location and surrounding development include:

• medium-density residential

• student accommodation

• single tenant/user commercial offices ranging from 500sq m to 1500sq m

• multiple tenant commercial offices of up to 4 levels, and less than 4500sq m

• education providers/institution

• short-term residential accommodation (relevant to the new stadium)

• hospitality uses

• medical precinct

The tender campaign for the property will close at 4pm, Thursday August 12.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.