Private and institutional buyers lodged more than $300 million in offers for a Logan Reserve infill development site that sparked fierce competition before selling for $21.275 million + GST.

JLL Metropolitan & Regional Land Senior Executives Jake Burrowes and Liam Petersen brokered the deal for 336-354 Chambers Flat Road with Ben McGrath from BRIO Property Group.

Mr Burrowes said with 150 inquiries and 15 formal bids lodged during the on-market Expressions of Interest campaign, the level of interest in the 7.2-hectare site had helped to set a record suburb rate of $295/sqm.

“The previous owner had held the site for more than 20 years, but was ultimately motivated to put the land up for sale due to increasing land management issues associated with the development of the adjacent newly subdivided estates,” Mr Burrowes said. 

“A key driver of that interest was its favourable Low Density Residential zoning (small lot precinct), which allows for fairly aggressive dwelling densities, estimated at circa 150 residential lots, subject to council approval. 

“As the last site available to build out on the eastern edge of Chambers Flat Road, its connectivity to the arterial network, central position between the Gold Coast and Brisbane and proximity to essential services, retail, schools and parkland further enhanced its appeal.”

Mr Petersen noted the site had a variety of allowable uses, including house and land, townhouses, retirement and modular home estates.

These were underscored by the broader Logan region’s key drawcards of affordability, accessibility and strong transport corridors linking through South East Queensland.

“Infill development continues to play a central role in the ongoing conversation around tackling critical shortages in housing supply,” Mr Petersen said. 

“This is evident in a strong focus among developer groups on sites of scale in affordable, tightly held and sought-after corridors such as Logan.

“It’s demand we expect will continue to sharpen well into next year.”

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