Old tennis court site sells

The former 9825sqm Frawleys Tennis Courts site at 56 Coman St, Rothwell, has been sold.

The property, which has Council approval for 97-unit retirement living development, was bought by a Victorian-based aged care group from a Sydney-based private investor in an off-market deal negotiated by Sam Biggins and Clem Stack of Knight Frank.

The development approval, obtained in July 2024, is valid until July 2030.

Mr Biggins says the Victorian-based aged care group was identified as a potential purchaser given the site’s current development approval, which suited its national acquisition mandate.

“The existing development approval significantly de-risked the site, enabling the buyer immediate entry into a high-demand downsizer and aged care market,” he explains.

“The property is located with Queensland’s third fastest growing residential region, supported by a median house price of $875,000.

“It offered land on a scale that was incomparable to any surrounding parcels of land, hence offering developers a rare opportunity.

“In the current market we are seeing high demand for development opportunities with approvals in place.”

Mr Stack says the bayside landholding was positioned at the cusp of the Redcliffe Peninsula with exceptional local amenity access.

“The site is close to the Redcliffe Hospital, which is currently undergoing an expansion, Westfield North Lakes and Rothwell Rail Station, enhancing connectivity and long-term growth,” he said.

“It is also close to Deception Bay Rd, the precinct’s primary connecting arterial road.”

Zoned specialised centre under the Moreton Bay Regional Plan, the site also allows for alternative uses including a medical centre, quick-service retail or similar low-intensity commercial uses, subject to council approval.