A prime development site in Logan City, strategically located between Brisbane and the Gold Coast in Queensland, has recently changed hands in a significant off-market transaction facilitated by Knight Frank agents. The 2,023 square meter property, situated at 289 Kingston Road in Logan Central, was acquired for $950,000 by commercial property syndicator Properties & Pathways.

This property, previously sold in 2015 for $500,000, offers versatile potential for both commercial and residential development. The site, adjacent to the Logan Medical Centre and currently hosting a three-bedroom dwelling, attracted the interest of the buyer due to its promising development prospects. The acquisition aligns with Properties & Pathways’ strategy to enhance the Logan Medical Centre by securing the entire corner position on Kingston Road, paving the way for future development opportunities.

Jacob Heinke and Hayden Ryan from Knight Frank orchestrated the deal, emphasizing the property’s zoning flexibility that allows for various commercial and residential uses. Heinke highlighted the property’s income-generating potential from the existing tenanted home, providing a steady cash flow while development plans are underway. The off-market nature of the transaction ensured a seamless process, benefiting all parties involved.

According to Ryan, the transaction not only adds value to the asset but also contributes to the local community by enhancing the area’s amenities to meet the evolving needs of residents. Logan City Council’s status as a growth area within South East Queensland underscores the significance of this development in catering to the region’s expanding population.

Cal Doggett, Managing Director of Properties & Pathways, expressed enthusiasm about the acquisition, citing the strategic fit of the adjoining site for development purposes. The company’s thorough feasibility study projected a favorable return on investment, with a focus on attracting compatible tenants to complement the existing medical facilities.

The successful acquisition of this Logan City development site signifies a forward-looking approach by Properties & Pathways to capitalize on growth opportunities in the burgeoning Queensland property market. As the region continues to evolve, developments like these play a vital role in meeting the demands of a growing population and enhancing the overall quality of life for residents.