A significant parcel of commercial land in southern Brisbane has been secured by premium aged care provider Arcare for a sizeable seven figure sum.
“The 8,797 square metre site located at 4 Pauline Avenue, Springwood, which is the former home of Springwood Bowling Club, is one of the largest parcels in the Springwood area, which is part of the Logan City LGA,” said selling agent Graeme Watts of Raine & Horne Commercial Brisbane Southside & Bayside.
“Once we took the property to market as a development opportunity in May, we received plenty of interest and four formal offers, which included the submission from Arcare and three private developers.
“Springwood is popular with commercial interests as it’s close to the Pacific Motorway and this was at the heart of this rare development opportunity’s appeal.”
The board of Springwood Bowling Club, which launched in 1972, has decided to look for a new site for its bowling activities. This follows a decision to cease trading, according to John Kirkpatrick, Chairman of the Springwood Bowling Club.
“We aren’t moving from the site because memberships are down. The decision to sell up was taken because our trading levels have fallen due to the growing competition from other licenced clubs and pubs in the area,” said Mr Fitzpatrick.
“We are seeking a new home and will function as a traditional bowls club. This could involve forming a relationship with another bowling club or a sporting association. We are currently servicing our members through the nearby Capalaba Bowling Club.”
In relation to the sale of the Springwood site, Mr Fitzpatrick said he was pleased with the sales result and the service provided by Raine & Horne Commercial Brisbane Southside & Bayside.
“The sales process was conducted professionally, the buyers were easy to deal with and working with Raine & Horne Commercial Brisbane Southside & Bayside was a positive experience.”