Upper Mt Gravatt development site in Brisbane’s south comprising 4,738sq m parcel of land at 69-77 Tryon Street and 27-33 Khandalla Street Upper Mount Gravatt for sale by Christian Sandstrom and Jason March of Knight Frank.

The properties, which are owned by multiple owners, have a price guide in excess of $10 million.

Mr Sandstrom said the amalgamated site currently consisted of eight separate lots - seven occupied by residential dwellings and one a vacant block - that have been amalgamated by local investors.

At a glance:

• A 4,738sq m parcel of land at 69-77 Tryon Street and 27-33 Khandalla Street at Upper Mount Gravatt is up for sale
• The development site is an amalgamation, currently consisting of eight separate lots, seven of which are occupied by residential dwellings and one vacant block
• The property will be taken to the market via an Expressions of Interest campaign run by Knight Frank
• A development proposal for a residential apartment project has been lodged, but other potential uses such as student living, retirement living and a build-to-rent project may also be possible

“Under the local Upper Mount Gravatt Corridor plan the amalgamated site is zoned HDR1 High Density Residential, allowing future development up to eight storeys,” he said.

“Future development will suit a wide range of uses including residential apartments, student living - given its proximity to Griffith University campuses, retirement living and a build-to-rent project.

“A development application has previously been submitted, consisting of 220 units over two eight-level buildings.

“Given the residential homes on seven of the eight sites, there is potential for holding income to be generated whilst an acceptable development application is lodged with Brisbane City Council. 

“The site has dual street access and given its significant size, affords the opportunity to be developed in stages.

“The recent announcement of Brisbane being awarded the 2032 Olympics will also create opportunities for developers to accommodate short-term accommodation.”

The Upper Mt Gravatt site is in an established area close to key amenities and major transport infrastructure.

It is situated around 500 metres from Queensland’s third largest shopping centre, Westfield Garden City, which provides a range of retail services and amenities for residents within the immediate area, and less than five kilometres from Griffith University’s Nathan campus.

It’s also around 14 kilometres from the Brisbane CBD, and is easily accessible via the M1 and Upper Mt Gravatt bus interchange.

Mr Sandstrom said the four-week EOI campaign would target local and interstate developers looking to take advantage of Brisbane’s net migration, as well as interstate investors and owner-occupiers looking for better value buying opportunities compared to what they can afford in their home states.

“Large-scale development sites in this prime location rarely become available to the market given properties are tightly held within the Upper Mount Gravatt region,” he said.

“Various owners of the land have worked closely together over several years to amalgamate these sites to provide this opportunity for future redevelopment.”

The Expressions of Interest campaign for the property will close at 4pm, Wednesday September 8. 

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