1 September 2023
An interstate investor has settled on a strong investment in Marsden, sold by investLogan for $2.351 million and marking the highest residential sale for the suburb on record.
investLogan, the Logan City Council’s independent investment arm, developed the NDIS housing property, which was delivered in late 2021, providing much-needed housing facilities to local community members requiring specialised support.
investLogan’s CEO Medy Hassan said he was pleased with the success of the recent property sale and the continuous social and economic impact that investLogan has made through developments such as this one.
“investLogan is thrilled with the sale of the property, which has delivered what we set out to achieve in providing a space where people feel comfortable and supported,” Mr Hassan said.
“In addition to our commitment to delivering strong financial returns for the people of Logan, investLogan has always been driven by providing significant social and community capital that maximises the contribution we make to the local community.
“Beyond achieving social benefit, and encouraging and supporting diversity within our City, the project has taken an underutilised council asset and turned it into much needed disability accommodation within the Logan community.”
The two, three-bedroom homes on the 1,883 sqm property has been operational under Home in Place for close to two years and houses a Supported Independent Living Provider and six local community members requiring full time support.
CBRE’s Will Carman managed the sale of the property to an interstate investor who recognised the opportunity in the Logan region.
“This sale is a perfect example of the huge potential that the region has for investors, and the economic opportunity that is driving value for investors,” Mr Camran said.
“The sale at a suburb record price is an impressive outcome for the vendor whilst providing an outstanding ongoing investment for the purchaser.”
The sale comes as investLogan begins to wind up its operations, following Logan City Council’s decision to discontinue the operations of investLogan in March 2023, as Council made the decision to refocus its strategic development vision.
investLogan has developed positive, productive, and mutually beneficial partnerships with its project partners and industry associates across all of its developments, which has translated into consistently profitable projects, investments and shared value via broader social benefit to the Logan community.
