Auction location: Sofitel Hotel, Brisbane CBD
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Lucrative inner-city development deal
- 12 Beds
- 6 Baths
- 4 Cars
The auction of these neighbouring inner-city properties as one site is a rare opportunity for developers or astute investors to secure an enormous 850sq m slice of the competitive South Brisbane market.
Zoned as low-medium density residential (LMDR) allows for the construction of a range of buildings up to 765sq m.
Subject to council approval, there is the potential to create an apartment complex, student accommodation, a post-hospital healthcare facility, a specialist medical centre, commercial office suites or even a multi-level carpark.
The location alone, opposite the Mater Private Hospital, is best described as outstanding.
Walk to the CBD, QUT, South Bank TAFE, Kangaroo Point, Lady Cilento Children's Hospital, the Gabba, West End State School, Brisbane State High School, Somerville House and St Laurence's College.
The houses are currently leased as a total seven self-contained flats with a holding income of $98,000 per annum.
Maintain as is, renovate one or both and move in, or demolish with approval and create a rewarding development.
CoreLogic data reflects South Brisbane's obvious growth, with a change in the suburb's median house price of 133.1 per cent over the past five years.
This is also mirrored in the latest census data which indicates a population increase of 48.3 per cent between 2006 and 2011.
850sq m land with 29m street frontage
Zoned low-medium density residential
Enormous development scope
Two houses currently leased as seven self-contained flats
Holding income of $98,000/annum
Opposite Mater Private Hospital
Walk to the CBD, South Bank, West End, QUT, Gabba stadium and Brisbane's best schools
- Air Conditioning
- Built-In Wardrobes
- Close To Schools
- Close To Shops
- Close To Transport
850m² / 0.21 acres
4 garage spaces
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.
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