Commercial Property Land Valuation System in Queensland is Arbitrary and Unpredictable
New land valuations for 24 Queensland LGAs have highlighted the flaws and inconsistencies in the state’s system, writes Paul Butler.
Tewantin Development Site Sold
A centrally located land parcel with redevelopment potential (STCA) close to the Tewantin CBD on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North.
The vacant 1012 sqm block at 85 Poinciana Avenue, Tewantin, was sold for $690,000 to an interstate developer by Ray White Commercial Noosa & Sunshine Coast North’s Paul Butler and David Brinkley on behalf of a local owner.
Paul Butler said multiple offers were received for the level rectangular block of land approximately 100m from the Tewantin CBD.
“Enquiry levels for this site were very strong due to its proximity to facilities and amenities, main road frontage and potential for residential or possibly commercial development (STCA),” he said.
“We had enquiry from local and interstate buyers with the majority of interested parties looking to build a residential townhouse complex on the site.”
David Brinkley said the site is currently zoned for attached housing.
“The property offers an exciting development opportunity being within a short walk of the Tewantin CBD,” he said.
New land valuations for 24 Queensland LGAs have highlighted the flaws and inconsistencies in the state’s system, writes Paul Butler.
Ray White Commercial has its first woman auctioneer. Chantel Dielwart has smashed the glass ceiling in the usually male-dominated auctioneer space, obtaining her accreditation late last year.