Aleisha Dawson, Property Journalist
Ausbuild has lodged plans for the 37-home community at 1-17 Pelham St, Logan Reserve in Logan.
A residential developer has paid $8.3m for a 2ha site, with plans to build a 37-home community in one of South East Queensland’s fastest-growing corridors.
Ausbuild has lodged plans for the 37-home community after securing the site in Brisbane’s booming Logan corridor.
Colliers agents Adam Rubie and Kristian Brymora handled the sale of 1-17 Pelham St, Logan Reserve, through an off-market expressions of interest campaign that attracted seven offers.
The level of competition comes as Logan faces significant population growth and increasing pressure to deliver new housing.
Colliers agents Adam Rubie and Ausbuild head of acquisitions Dean Barwick at the site in Logan Reserve.
Mr Rubie said the strong level of competition for the property reflected the increasing scarcity of quality residential development land across South East Queensland.
“Seven offers for an off-market campaign is a very strong result and reflects just how competitive the market has become for quality infill sites,” Mr Rubie said.
“Ausbuild has secured a strategically located site which will add to their pipeline in the broader Logan corridor.
“South East Queensland requires an estimated 34,500 new dwellings annually to meet forecast population growth, and as one of Australia’s largest and fastest-growing cities, Logan has a key role to play in accommodating this growth.”
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Logan Reserve has continued demand for new housing. This property at 2 Palmeri Street, Logan Reserve is currently on the market at offers over $799,000. Source: realestate.com.au
The Queensland Government’s Shaping SEQ 2023 plan forecasts Logan will need to increase its housing stock from 125,700 dwellings in 2021 to 173,600 by 2031 – requiring 47,900 additional dwellings over the decade.
Ausbuild head of acquisitions Dean Barwick said the purchase reinforces Ausbuild’s commitment to delivering high-quality residential communities in key growth corridors across South East Queensland.
“Logan Reserve continues to benefit from strong population growth, established infrastructure, and increasing demand for new housing, making it an attractive location for future development,” Mr Barwick said.
Ms Brymora said the sale highlighted continued investor and developer appetite for residential development sites in Logan.
“This was a rare offering in a supply-constrained market and attracted significant interest despite being offered exclusively off-market,” she said.
“We are seeing continued interest across South East Queensland for well-located, infill opportunities, such as this Logan Reserve offering.”
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