A prime waterfront development opportunity is for sale at Sandstone Point, Bribie Island.
Within walking distance to the acclaimed newly developed $50 million ‘Sandstone Point Hotel’ is 8,304m² of prime waterfront development land. With 100 metres of water frontage directly to the ‘Spinnaker Sound Marina’ this site has DA approval for 60 residential units.
NAI Harcourts commercial agent Phil Grant says “This development site is a great opportunity for astute developers to purchase a rare waterfront development site adjoining a marina within walking distance to the Sandstone Point Hotel”. Interestingly Grant has been fielding calls to purchase units well ahead of any development plans.
The site is easily accessible to the beachfront, shops, and major lifestyle outlets with high visibility from the main road. The property comes with a generous holding income from three existing tenancies.
Bribie Island is situated off the coast of Moreton Bay and is about a 45-minute drive north of Brisbane.
Sandstone Point once home to family holiday makers and an older demographic of retirees has seen a rejuvenation in recent years due to the newly developed ‘Sandstone Point Hotel’. This upscale pub, bistro and entertainment facility situated on 35 hectares of waterfront land has attracted up to 12,000 people for concerts such as Jimmy Barnes and other national and international acts as well as festivals. The hotel itself is 3000 square-metres and includes a kids’ playground with farmyard animals, multiple bars, and dining spaces and a 750 square-metre liquor barn.
The large traffic that visits this area for the various events are bolstered further due to the proximity to the always popular Bribie Island. A popular spot for tourists, retirees and local holiday goers, Sandstone Point and the surrounding suburbs have seen continual growth in recent years with good housing, units, and land options always in high demand.
The development site is zoned ‘Next Generation Neighbourhood’ to encourage developers to pursue residential commitments and there is potential for mixed commercial, residential and retail options given its high visibility location. Grant says “Given its waterfront view and main road exposure, it lends itself to many options. The site could be developed using the existing DA or potentially a combination of retail and residential”.
Due to the opening of the ‘Sandstone Point Hotel’ in June 2015 properties on Bribie Island have seen an increased demand and with this an increase in property prices. Grant says “In the last 12 months houses have increased in value by 3.80%, units have increased by 6.73% and neighbouring suburbs have seen property prices increase by 19.5%.”
1713-1735 Bribie Island Road, Sandstone Point, Queensland