Large CBD block put on market: Plans for 104 apartments

AN INNER city property earmarked for a residential tower is up for sale.

The 4857sqm piece of land running along Lowry St was granted approval from Ipswich City Council in July for 104 apartments to be built in two stages.

Now the owners, a small group of professionals who bought the land and pushed the approvals through the council, are hopeful a developer will take on the project.

The site is just 800 metres from the Ipswich CBD and according to Ray White Special Projects Qld Director Mark Creevey, is one of the last remaining properties of its type.

"The proposed apartments will be located 500m from the Riverlink Regional Shopping Centre and the offering will include 82, 2 bedroom apartments and 22, 1 bedroom apartments,” Mr Creevey said.

"It's expected that there will be a limited future supply of competing stock near this project.”

Ipswich has just passed the 200,000 resident mark and the population is expected to double within the next 20 years.

Catering for the growth means building 118,000 more homes by 2031.

Across the city there are just under 8000 businesses employing about 70,000 people; those employment figures are expected to hit 76,000 within the next five years.

"The South-East Queensland Regional Plan 2009 identifies the city centre of Ipswich as the principal administrative, cultural and community centre for Ipswich and surrounding areas,” Mr Creevey said.

"The area is being redeveloped to act as the main retail and commercial centre for Ipswich.”

The property for sale takes in five titles at 28-30 Lowry Street, 45-47 Flint St and 12 Pelican St, North Ipswich and has been listed without a price.

The agents are accepting expressions of interest until March 9.