59 Park Street

Coorparoo QLD 4151

809 m²

Block of units

Currently for sale - view listing

Overview

Where Scarcity, Income and Future Upside Align

Positioned at the end of a quiet Coorparoo cul-de-sac with more than 40 metres of direct park frontage, 59 Park Street brings together a combination of attributes that are becoming increasingly difficult to find in Brisbane's established inner-city suburbs. The 809m² landholding includes 20 metres of street frontage, with a post-war structure containing six income-producing flats offering immediate return today while preserving multiple pathways for the future. In character-filled, tightly held locations such as Coorparoo, finding even one of these features can be difficult. Finding them together on a single site is rarer still. The income provides a strong holding position, the existing post-war structure and generous frontage create flexibility to investigate future options, and the park side cul-de-sac setting gives the land an underlying scarcity that cannot be replicated. For investors, land-bank buyers and developers alike, 59 Park Street is an opportunity to secure a blue-chip inner-city holding with both current income and long-term upside. The Numbers Current Gross Income: $145,600 pa Projected Gross Income: $153,400 pa - $165,360 pa Investment & Land back Strategy Blue Chip 809m² landholding underpinned by direct park side location Opportunity to progressively reposition individual flats as leases turn over Investigate short-stay accommodation or alternative rental strategies Renovate each unit as leases turnover, increasing yield whilst retaining current income Design & Develop Strategy The Zoning - Post war structure sitting on a Low-Density landholding The Frontage - 40 metres of direct parkland frontage and 20 metres of Street Frontage The One into Two - Retain the existing income while investigating a subdivision The Forever Home - Explore a single substantial park side knockdown-rebuild The Flexibility Design without the constraints of 'Traditional Building Character Overlay' For further information on the current income position, individual lease breakdown, projected rental upside and the potential investment or redevelopment pathways available at 59 Park Street, please contact us directly. We would be pleased to provide the supporting information and discuss the opportunity in detail. Development potential is subject to Council approval and all relevant planning requirements. Buyers should undertake their own due diligence. Every effort has been made to ensure the information provided is accurate. Buyers are encouraged to make their own enquiries and verify any information that is important to their decision.