Big land parcel in Barney Pt boom
THE Wolff family has listed for sale a 10,200 square metre property at Barney Point for possible high density residential development. The listing puts Barney Point firmly in the line for increased residential development within close distance of the Central Business District and in Gladstone??s only beachside area. Nearby similarly zoned properties have had approval for five-storey developments. Regent Place, overlooking Barney Point Beach, set the trend and since then there have been other, although smaller, unit developments including Momentum Properties recently completed six townhouses with a total value of nearly $2 million near the Wolff properties. The property, which has been in the Wolff family for 70 years, is in five titles of equal size and has frontage to Barney, Friend and Wood streets. ?o?? THE property contains two retail shops, four homes (including the original family home), and a block of flats containing four units. Lawrence Wolff yesterday would not reveal the dollar value the family wanted for the property, which was listed for sale by ??offer of purchase???? to close on May 25. ??If the price is right, it will sell ?V if not, we will hang on to it for a while longer,???? Mr Wolff said. He said the properties had been in the family since his father bought them in the mid-1930s. He said the sale proceeds would be split between five family members. ??We considered developing the property ourselves, but in the end decided that at our age it might be easier to sell it instead.???? The property is being marketed by Ray White Commercial in Brisbane. The marketing documents describe the property ??as a significant opportunity to create a substantial mixed use development???? in an area that was in need of selected retail outlets. ??Gladstone is experiencing exceptional growth and development land is becoming scarce????. Mr Wolff said the property was listed only a fortnight ago, but already there had been a number of inquiries from potential buyers.