A prime development site in Logan City, strategically positioned between Brisbane and the Gold Coast in Queensland, has recently changed hands in a significant off-market deal. The 2,023sq m property at 289 Kingston Road in Logan Central, adjacent to the Logan Medical Centre, was acquired for $950,000 by commercial property syndicator Properties & Pathways. This purchase marks a notable investment opportunity with potential for both commercial and residential development.
The transaction was facilitated by Knight Frank agents Jacob Heinke and Hayden Ryan, who orchestrated the deal between Properties & Pathways and the private investor. The property, previously sold in 2015 for $500,000, includes a three-bedroom house that is currently leased, providing a source of income while development plans are being formulated and approved. The site’s zoning in the Logan City Council area allows for various commercial and residential uses, making it an attractive prospect for the buyer.
According to Jacob Heinke, the off-market acquisition was driven by the buyer’s interest in expanding the Logan Medical Centre and leveraging the property’s development potential. The site’s location and size offer a strategic advantage in enhancing the existing facilities and exploring future development opportunities. Hayden Ryan emphasized the growth potential of Logan City, highlighting the positive impact that development projects like this can have on the local community by improving amenities and meeting the evolving needs of residents.
Cal Doggett, Managing Director of Properties & Pathways, expressed enthusiasm about the acquisition, citing the strategic fit of the adjoining site with the company’s development objectives. The purchase aligns with the company’s commitment to adding value to its assets and delivering returns to investors. With a vision to attract complementary tenants and enhance the medical precinct, the acquisition sets the stage for future growth and development in the area.
The successful sale of the Logan City development site underscores the ongoing demand for strategic property investments in key growth regions like South East Queensland. The transaction not only reflects the confidence of investors in the market but also signals a positive trajectory for commercial property development in the region. As Logan City continues to evolve and expand, such acquisitions play a vital role in shaping the urban landscape and meeting the demand for quality commercial and residential spaces.
In conclusion, the sale of the development site at 289 Kingston Road in Logan Central signifies a significant milestone in the ongoing transformation of Logan City. The collaboration between Knight Frank, Properties & Pathways, and the private investor underscores the value of strategic partnerships in driving successful property transactions. As the region continues to attract interest from investors and developers, such initiatives contribute to the sustainable growth and development of Logan City’s real estate market.
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