News

Failed Gladstone housing estate blocks selling for dirt cheap

Gladstone Green: 23 lots going up for auction in failed estate development.
Gladstone Green: 23 lots going up for auction in failed estate development. Mike Richards GLA060617GREEN

BLOCKS of land once planned to form part of a family-friendly estate are for sale for just over $49,000.

The 23 blocks off Lorikeet Ave for sale were once part of Gladstone Green, a planned 36 home suburb that promised family-friendly living in New Auckland.

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Mass sell off of blocks in another failed Gladstone housing estate

The developer behind Gladstone Green, Moreton Bay Developments No 8 Pty Ltd, is in administration and its assets are being handled by a private lender.

Only 13 of the house and land packages at Gladstone Green were sold about four years ago.

 

Gladstone Green: 23 lots going up for auction in failed estate development.
Gladstone Green: 23 lots going up for auction in failed estate development. Mike Richards GLA060617GREEN

An auction sell off was attempted for the 23 blocks earlier this month, but now they're on the market.

Advertised as "never to be repeated pricing" the blocks are flat and ready to build on.

The land sizes range from 300sqm to 660, but most are around 450sqm.

The 23 blocks are advertised for sale by Ray White from $49,950, with the average price $68,000.



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