A recently-approved development site next to Brookside Shopping Centre in Mitchelton, 10 kilometres north-west of Brisbane CBD, will test the market.
The former horse agistment site, spanning a 1.3188 hectares, has approval for two towers comprising 90 apartments, 100 independent living units, a child care facility and ground floor commercial space.
An application for the Mitchelton site was initially lodged in late 2017.
Vendor of the Brisbane site is New South Wales’ based Traders in Purple, who received project approval for the twin- 10-storey development.
Knight Frank’s Christian Sandstrom and Adam Willmore, along with health and aged care specialist Russ Allison are jointly appointed to manage the 1A Northmore Street site via an expressions of interest campaign.
Allison says demand for residential and seniors living accommodation in Mitchelton is forecast to rise.
“Currently just under 10 per cent of the population in Mitchelton is over 65, but this is forecast to grow to 12 per cent by 2026,” he said.
“Along with the ageing population in surrounding suburbs including Keperra and Arana Hills, will drive accelerated demand for seniors living product in the area,” Alison said.
Sandstrom says there is a strong appetite for quality residential development sites in Brisbane.
“It offers opportunity to secure a quality mixed-use residential, seniors living and childcare development site in a very solid location.”