A prominent town centre site has attracted interest from developers and investors, with several potential buyers seeing strong growth prospects in the area.
The 4,290sqm site at 3 Fleming Street and 10 to 12 Scott Street, Yandina, was recently taken to market through a four-week expressions of interest campaign.
RWC Northern Corridor sales and leasing agent Fraser Martin, who ran the campaign alongside Emily Pendleton, said the site attracted a range of interest from prospective parties.
“We experienced heightened interest throughout the campaign, ranging from land banking/opportunistic buyers to residential and commercial developers,” he said.
“We closed the campaign with four interested parties and a wide range of pricing feedback.
“There was also quite a variety in the terms and proposed uses put forward, which reflects the different opportunities buyers see for the site.”
Mr Martin said discussions were continuing with one prospective buyer following the end of the formal campaign.
“While we didn’t secure a sale during the formal EOI period, we are still actively negotiating with a qualified developer that has identified potential users for the site and is investigating a significant commercial development,” he said.
The property is being marketed as suitable for commercial or mixed-use redevelopment, subject to council approval, with the site offering more than 4,000sqm of Local Centre-zoned land.
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The campaign also comes as residential development continues to increase the potential catchment around the town.
Mr Martin said the level of interest reflected expectations for Yandina’s future.
“One of the key themes coming through from buyers has been confidence in Yandina and its future growth,” he said.
“There are a number of residential land subdivisions are occurring in and around the area, which brings more people into the catchment and increases the need for additional commercial services and amenities.”
The site information highlights approximately 240 residential lots planned through Yandina Valley Estate, along with Stockland’s Halcyon Yandina over-50s lifestyle community.
“We see Yandina as a town with considerable growth ahead of it over the next five to ten years,” Mr Martin said.
“It’s increasingly becoming somewhere people want to live, while its accessibility and location continue to make it attractive from a commercial perspective.”
The property also offers holding income exceeding $55,000 a year gross, according to the sales information.
Mr Martin said the campaign provided an indication of how buyers viewed the town’s development potential.
“The level and diversity of enquiry we received during the campaign was a good indication of how the market views the future of the town and the development potential of larger Local Centre-zoned sites such as this one,” he said.
