Private investor snaps up convent and land with intention to open ECEC service
A private investor/developer has purchased a 1,803 parcel of land, with an existing former 500 sqm convent on site, with the intention of using the space for a 101-place early childhood education and care (ECEC) service.
Purchased for $2.35 million on an unconditional contract, the land is 6 km south of the Brisbane CBD at 43 Crown Street Holland Park West, and is zoned as Low Medium Density Residential (2 or 3 Storey Mix) Zone under the Brisbane City Council Planning Scheme 2014.
The site, which was sold through Robert Dunne and Will Carman of Savills Australia, is within walking distance to public transport and a range of local amenities in an area which has experienced strong growth in its median house price over recent years.
“Holland Park West residents enjoy proximity to the Brisbane CBD via regular bus services to the city, which is why the suburb is becoming more popular with urban professional couples and families,” Robert Dunne, Director, Commercial Sales at Savills Australia said.
“We had 84 interested parties with 51 people that got a copy of the DD which resulted in 20 offers – a clear indication that Holland Park West is certainly on the up and up,” he added.
Holland Park West has a mix of different housing styles, with Federation style brick homes and Queenslanders being particularly popular.
“The surrounding developments comprise a mixture of building types with post-war housing, sitting alongside walk-up developments from the 1960s through to the 1990s,” Will Carman, Manager, Commercial Sales at Savills Australia said.
“In recent years, large, modern homes have been built on top of some of Holland Park Wests’ hills to take advantage of the views of Brisbane’s skyline”.