Brisbane’s second-largest house on a block, the house that has seen the most growth in house prices in the last decade, has been sold to a developer.
The $3.8 million, five-bedroom, four-bathroom house at the intersection of Northgate Avenue and Northside Street was sold on Wednesday for $2.65 million to private equity firm Gailand, the Courier-Mail reported.
It will be demolished to make way for the development.
The first of four houses on the property was built in 2009.
Gailand did not disclose the price.
It is one of two properties on the Block 2 development, a sprawling development of housing, shops, office, retail and commercial space on Northgate and Northgate Street, which has seen more than 40,000 people move into the area since its inception in 2010.
The Block 2 project, which also includes a 1.4-acre site at the northern edge of the CBD, is expected to open in 2018.