Opportunities to develop in the hugely successful and award winning master-planned Fairfield Waters development in northern Australia’s largest city of Townsville are available through Ray White Commercial and Colliers International.
Following their $22 million sale of The Precinct, the Brisbane-based owner has appointed Stephen Kidd of Ray White Commercial Queensland and Neville Smith of Colliers International to sell three more projects in the Fairfield Waters estate in Idalia.
The strategic location provides easy access to the adjacent retail facilities, adjacent medical centre, retirement village and sporting facilities. With Townsville on the cusp of a new economic renaissance, it’s an opportune time to acquire and even land bank these terrific sites.
The development offerings include 7 Kokoda Street, a landmark site property comprising almost 4,000 sqm of land, zoned for a seven-storey mixed-use development.
A second property, 34-38 Stuart Drive, comprises 3,151 sqm of land with a Development Approval (DA) for another quality mixed-use development. The site is approved for 24 residential units and retail space.
The final offering is 11 Kokoda Street, a new mixed-use tower on a 2,275 sqm block. The residential component is already fully leased and several of the stylish apartments are furnished to boost their potential rental income. The ground floor of the building has three retail shops.
Expressions of interest are being sought for the entire development or for each individual lot.
Stephen Kidd said: “The proximity to neighbouring developments and the local army barracks has resulted in keen demand for the residential units with all being leased as soon as they hit the market, with the owner rejecting offers to purchase individual units.”
Neville Smith said the lakefront Fairfield Waters Estate has been an exceptional performer in the Townsville market.
“The greater Fairfield Waters Estate is in a league of its own in Townsville,” he said.
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