Algester land sale tops $3M
88 Learoyd Rd, Algester. Picture: realestate.com.auA 4.37ha property at Algester has sold for $3.3 million prior to its scheduled auction. The land at 88 Learoyd Rd comes with development approval, obtained from council in December, for 66 townhouses. More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours ago88 Learoyd Rd, Algester. Picture: realestate.com.auIt’s positioned next to the Tee Time Golf Driving Range and isn’t far from Sunnybank Hills.Yong Real Estate Corporate’s Peter Huang said the property sold early last week to a developer.“He’s doing some development in South Brisbane and in Redcliffe and wanted to do something in Sunnybank,” Mr Huang said.The sellers had held the property, which has an old Queenslander on it, for more than 20 years before deciding to put it on the market.“They are not developers, just normal land owners not in the position to develop it themselves,” Mr Huang said.“They’ll split the money between family members.”Algester is within a 20km radius of Brisbane’s CBD and has a median house price of $490,000, according to CoreLogic.