John Van Lieshout’s Unison Projects is sowing the seeds of a $100 million residential project on Brisbane’s northside after securing a hotly contested infill development site at Bridgeman Downs.
The Brisbane-based property and investment company emerged from a crowded field of industry heavy hitters to snare the 10.8 hectare parcel on Roghan Road for $19 million.
Agents Greg Russell and Mark Horgan, of Knight Frank
, managed the expressions of interest campaign for the property, a deceased estate and one of the last development sites available in Bridgeman Downs.
Mr Russell said the largely vacant future urban-zoned site attracted 75 inquiries and 25 formal offers from significant private and institutional prospective purchasers.
“This is a rare parcel that should have been developed 15 years ago,” he said.
“It ticked all the boxes, apart from having development approvals.”
Unison Projects’ Shannon Down
said the company would respond to strong demand for quality housing in the popular area by seeking approval for a residential subdivision of between 140 and 150 lots.
“This is an incredibly rare development opportunity in a proven area,” he said.
“Bridgeman Downs is the Rochedale of the north.
“It’s a leafy, well-established and easily accessible suburb that does not have a great deal of new housing coming to the market, which is why we jumped at the chance to acquire it.”
Mr Down said Unison’s plans for the gently sloping site would capitalise on its north-east orientation and views of the Glass House Mountains and sea breezes from Moreton Bay.
He said the company was considering a variety of lots sizes and types that will have broad market appeal.
Mr Down said a that approximately 20 per cent of the site would be preserved as green space in keeping with Bridgeman Downs’ leafy character.
Unison plans to lodge its development application for the site with Brisbane City Council in November.
Unison Projects was established in 2001 and has a workbook of 12 projects worth in excess of $280 million.
Its current Brisbane developments include residential subdivisions Parkvue at Oxley and Griffin Pocket at Griffin.