A property in Marsden that provided housing to NDIS recipients has sold for the highest recorded residential sale in the suburb.
The property was offloaded by Logan City Council’s independent investment arm investLogan to an interstate investor for $2.351 million as part of the investLogan shutdown.
The property was developed by investLogan in late 2021 to provide housing facilities to locals who require specialised support.
There are two three-bedroom-homes on the 1883sqm block, which for the last two years have housed a Supported Independent Living Provider and six local community members requiring full time support.
CEO of investLogan Medy Hassan said he was pleased with the property sale.
“investLogan is thrilled with the sale of the property, which has delivered what we set out to achieve in providing a space where people feel comfortable and supported,” Mr Hassan said.
“In addition to our commitment to delivering strong financial returns for the people of Logan, investLogan has always been driven by providing significant social and community capital that maximises the contribution we make to the local community.
“Beyond achieving social benefit, and encouraging and supporting diversity within our City, the project has taken an underutilised council asset and turned it into much needed disability accommodation within the Logan community.”
CBRE’s Will Carman managed the sale of the property to an interstate investor who recognised the opportunity in the Logan region.
“This sale is a perfect example of the huge potential that the region has for investors, and the economic opportunity that is driving value for investors,” Mr Carman said.
“The sale at a suburb record price is an impressive outcome for the vendor whilst providing an outstanding ongoing investment for the purchaser.”
