After two years of negotiations, a 18,230sq m parcel of land located in Riverview has sold to the adjoining owner for $1.95 million with significant development plans in place.

The sale of the property located at 19 McEwan Street was facilitated by Ben Donnelly of Savills, with plans underway for 120 townhouses to be built on an amalgamated site of approximately 25,000sq m.

Associate Director of Savills Industrial and Business Services, Ben Donnelly, described the transaction as a long process, with the property first taken to market in 2016.

“It was a lengthy process, subject to a Council MCU from Industrial to Residential, however we were able to achieve the desired outcome.

“In addition to the 120 townhouses, the new owner also intends on building a small neighbourhood shopping centre which will increase the desirability & amenity of this new precinct,” Mr Donnelly said.

The property is ideally located with approximately 240 meters of frontage to McEwan Street, on the corner of Endeavour Road and Station Street, with convenient access to the Riverview Railway Station.

“Residents of the new community will benefit from a short commute to both the Ipswich and Brisbane CBDs, with a 10 and 26 minute drive respectively, or alternately a quick & convenient rail commute,” Mr Donnelly said.