Stockland Group has a bought a 48 hectare Narangba property for $2.6 million.
A MAJOR parcel land next to a growth corridor north of Brisbane has sold for $2.6 million.
Handled by Peter Uebergang from Colliers International, it is the first time the 48 hectare (119 acre) property on Raynbird Road, Narangba, has sold, having been in the Schulz family for at least 80 years.
The Narangba property was held by the Schulz family for at least 80 years.
Despite some challenges, including its current zoning and power lines running through the property, a carefully-planned marketing campaign and expert post-auction negotiation from Mr Uebergang delivered a result that was well above expectations.
The property was bought by ASX listed company Stockland Group, 21 per cent above original $2.25 million asking price.
Mark Phelps
Journalist
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