Private developers are offering a greenfield tavern opportunity on a full hectare, on Queensland’s golden promenade, between Brisbane and the Gold Coast.
The future tavern and or accommodation hotel at 345 Miles Platting Rd Rochedale will occupy a 10,117sqm block with 220 metres of main road frontage, at the intersection of the M1 and Gateway Motorways, and the entrance to Brisbane’s booming Rochedale Community.
The Rochedale Town Centre is due for completion in 2019, and the designated site for a hospitality offering will be opposite a new masterplan shopping centre anchored by a 3,500sqm Coles supermarket, alongside 16 specialties, three pad sites, and various entertainment, dining and parkland facilities.
The motorways carry up to 300,000 vehicles each day, with only one set of traffic lights separating Rochedale from the Brisbane CBD, Port and Airport, Gold Coast and the Sunshine Coast, while Brisbane Technology Park, and its 120,000sqm of office space, is just over a kilometre away.
There is no DA approval yet, and the site’s main road proximity facilitates a six-storey height limit and allowable GFA of up to 15,175sqm (STCA), bringing a variety of development options.
Rochedale is one of Brisbane’s rapidly growing suburbs, with a median house price approaching $1m. The development project, the work of a private Brisbane family, is framed by its prime positioning and access.
“This is a unique opportunity to purchase a large commercially zoned land holding at the crossover of Queensland’s two busiest motorways, the M1 and the Gateway Motorway, and only a 12-minute drive to the Brisbane CBD,” notes HTL Property’s Queensland director Glenn Price, who has been appointed to market the asset in conjunction with Ray White Special Projects executive director Mark Creevey and JLL’s Blake Goddard.
Queensland regions such as Coomera, Pimpama, Yarrabillba, Springfield, Ripley and Flagstone are seeing significant population growth and investment, which is in turn bringing opportunities for savvy developers and publicans. Top-dollar valuations in a thriving industry are driving more operators to greenfield sites as a cost-effective alternative that also comes with greater freedom.
Price has orchestrated the recent transaction of a 4000sqm tavern site in the ‘Priority Development Area’ of Flagstone to Sydney-based Monarch Hotels, under veteran Joel Fisher. This followed yet another greenfield tavern site at Yarrabilba that recently transacted.
“There has been a significant increase in demand for greenfield hotel sites in the last 18 months,” notes Price.
“With the market being starved of available A-Grade assets to purchase in south-east Queensland, publicans and hoteliers are looking at the growth suburbs and Priority Development Areas in which Greenfield opportunities are presenting themselves.”
A comprehensive due diligence package is available for qualified parties upon request.
The Rochedale greenfield development opportunity is for sale via Expressions of Interest, closing Wednesday 24 October.