Ausbuild pays $8.3m for Logan Reserve site, lodges 37-home plan

The outlet reports that the site was sold by Colliers agents Adam Rubie and Kristian Brymora through an off-market expressions of interest campaign, and that the campaign drew seven offers. Rubie said the result reflects how competitive the market has become for quality infill sites. Brymora said the offering drew significant interest even though it was sold exclusively off-market, and described the market as supply-constrained.

The numbers

The outlet states the price as $8.3m for the 2-hectare site, with the lodged plans covering 37 homes. Those three figures are shown in the stat tiles above.

On wider demand, the report says South East Queensland needs an estimated 34,500 new dwellings a year. It also cites the Queensland Government’s Shaping SEQ 2023 plan, which projects Logan growing from 125,700 dwellings in 2021 to 173,600 by 2031. Those are the outlet’s citations of the plan, and we have not checked them against the plan itself.

Ausbuild’s head of acquisitions, Dean Barwick, was quoted as saying the purchase supports the company’s commitment to high-quality residential communities in key South East Queensland growth corridors.

What’s next

The outlet says Ausbuild has lodged plans for the 37 homes. The report as we hold it does not say what type of homes are proposed, which application number the plans sit under, or what decision date applies, and we did not find a council record for the lodgement. Until a council record is available, the 37-home plan should be read as a proposal, not an approval.

The report also does not say when construction could start or when homes might reach buyers. We will update this story if a council record or a statement from Ausbuild sets those details out, and we will keep the 37-home plan described as lodged only until then.