A PLUM development site near the Cleveland Library that could be used for residential units, a hotel or commercial office space is up for sale.
The mixed-use site also has potential for views over Raby Bay.
The 1154 square metre site over two titles at 40-44 Middle Street, Cleveland, is being sold by Ray White’s Andrew Burke, Matthew Fritzsche and Nathan Moore.
Mr Burke said the site had major centre zoning which allowed for a range of development options.
“The zoning allows multiple uses to take advantage of the strategic position of the site in the Cleveland CBD and potential for stunning water views,” he said.
“Development options include residential units, hotel , commercial office or various combinations of all.
“The site is close to Coles and Woolworths supermarkets, bayside parklands and Cleveland’s cafes and restaurants plus rail and bus links.”
Mr Moore said the area had seen the emergence of unit development which had transformed parts of Cleveland’s shoreline.
“Cleveland has experienced strong price growth over recent years,” he said.
“While Cleveland is the retail and commercial hub for the Redland Shire, it is also a place where you’ll find public artworks, historic buildings and pubs and a very popular Sunday market.”
Mr Fritzsche said the site had two single level commercial buildings on separate titles which were both tenanted.
“The property fully leased generates rental income of approximately $117,564 per annum,” he said.
Expressions of Interest close at 4pm on Tuesday, September 5, 2017.
It comes as the state government sets up a South East Queensland Housing Supply Expert Panel with the population in the region expected to exceed 5.3 million over the next 25 years.
Premier Annastacia Palaszczuk told a Property Council of Australia lunch in Brisbane that the panel would ensure housing needs kept pace with estimated growth
“This population growth will require 794,000 extra dwellings over that time,” she said.
“We will reinstate this essential monitoring program after it was cut by the previous government and establish a new independent expert panel to ensure our land supply projections are robust and rigorous.
“The South East Queensland land data will ensure industry and all levels of government are accurately informed of land supply, housing demand and development information and can respond accordingly.”
The announcement follows the Property Council’s submission on the South East Queensland Regional Plan, which made the case for an independent agency to be re-established to monitor land supply and development to match surging population growth.
