Developers snap up blocks earmarked for townhouses
TWO properties on the outskirts of Ipswich earmarked for development have been sold.
Plans have already been approved for the two parcels of land at Richlands, just past off the Ipswich Mwy near Wacol.
Brisbane based developer Indigo Group has bought one of the sites along Brentford Rd, covering 3.2ha, and plans to incorporate it into the new Sienna Grove estate.
The other property on Brentford Rd was bought by developer Impact Homes.
The sale was subject to development approvals and combined, the sites are now approved for 70 townhouses.
The transaction, via selling agent, Ray White Special Project's Matthew Fritzsche, was handled 'off market' and sold on behalf of private owners.
Indigo Group Director Michael Truce said there was a strong demand for affordable detached housing in Richlands.
"(The property) presented an excellent opportunity to develop an estate of affordable family houses with great access to the city, schools and transport," Mr Truce said.
"In today's housing affordability crisis, solutions such as this are more important than ever."
"The estate, Sienna Grove, will feature extensive green spaces, stunning elevations and provides great quality affordable housing which the market is crying out for.
"The estate presents families with an alternative to medium density community title schemes and large house blocks. Sienna Grove is an example of how quality affordable homes are being delivered in South East Queensland."