ELEVATED Mount Cotton property Bailey's Ridge has sold at a Ray White Rural auction for $4.65 million to the Koala Farmland Fund.
Located in the Redlands Shire on West Mount Cotton Road east of the Brisbane CBD, the 36 hectare (88 acre) property had been owned by five generations of the Holzapfel family since the early 1900s.
The flood free, drought free property was previously used to grow cabbages, watermelons and cauliflower, and more recently a nursery enterprise and agistment for about 60 head of cattle.
The property features a 2500 square metre hardstand area suitable for a home overlooking the property, and distant views of Brisbane's skyline.
Set along Bailey's Creek, a tributary of Tingalpa Creek, and adjoining Venman Bushland National Park on two boundaries, the picturesque property sits about 100m above sea level.
The Venman is one of the largest remaining areas of eucalypt forest in the coastal lowlands near Brisbane. The park and other forest remnants in the region are important habitats for koalas and other wildlife.
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