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Prime Oxley Site Ready For Mixed-Use Development

oxley1

A development site offering the potential to become the first multi-level residential apartment project in an important corridor of Brisbane’s southwest has hit the market in Oxley.

The property is located at 93-95 Ellen Street in Oxley and consists of 1,292 square metres of development land.

Selling agent, Paul Liddy of Ray White East Brisbane said the property benefited from recent zoning changes enacted under the Brisbane City Plan.

“The new Brisbane City plan 2014 is in response to increased population growth, allowing for a liberal development mix based on what is suitable for the area,” he said.

“This site provides the opportunity for an astute developer to build one of the first residential apartment buildings in Oxley and thereby corner the market in this pocket of Brisbane’s south-west.”

Mr Liddy said the property is zoned District Centre 1 (DC1) under the Brisbane City Council’s new planning scheme and it enjoys considerable active frontage to Ellen Street and the adjoining rail overpass.

Development site, Oxley, QLD

Development site, Oxley, QLD[/caption]“It’s a simpler planning system that encourages development, allowing flexibility in certain precincts to increase density or development without putting a blanket over the whole city or limiting individual suburbs or precincts.”

It is estimated that the development site could cater for up to 34, two bedroom units based upon the new district zoning provisions that allow for developments to reach up to five storeys in height dependent upon land size and proximity to other buildings.

According to Mr Liddy, the property offers scope for a mixed-use development that could include commercial shops on ground level and apartments above.

The property enjoys exceptional retail amenity, as it is located within 150 metres of the Oxley Central neighbourhood shopping centre, recently acquired by

Folkestone Ltd for about $35 million.

The property is for sale by public tender.Expectations are around $1,000,000.

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Article originally posted at: https://theurbandeveloper.com/articles/prime-oxley-site-ready-mixed-use-development