A Mount Gravatt site with a development approval for a seven-storey tower is now under offer.
The site located at 1484 Logan Road, Mount Gravatt was offered by Expression of Interest, which closed last 31 October 2019. According to the Knight Frank site, the property is already under offer.
The 6,128sqm site is currently occupied by a two-storey freestanding building with 3,013 sqm NLA with onsite parking of 90 vehicles available. The property is fully leased with a passing income of $982,971 per annum.
Anchored by major tenants such as Anytime Fitness, The Salvation Army, and St Vincent de Paul, the site has an approved development application for a seven-storey tower comprising 46 apartments and 2,185 sqm of commercial office space.
According to the proposal, the redevelopment will involve the rear half of the site currently used as an outdoor parking with existing front retail uses. The residential tower will contain 46 apartments with a ground floor cafe and healthcare premise off a public plaza thoroughfare.
A shop to be located partially below ground and fronting onto Bothwell street is also included in the plan. A total of 134 car parking spaces over three levels will be provided for the two towers, the other tower (not part of the approved DA) being a commercial tower for office use.