A sprawling 1075sqm corner parcel, just 5.6km from the Brisbane CBD, comprising a total of 8 self-contained flats between a Grand traditional Queenslander, and a second, semi-detached dwelling. This one’s got opportunity written all over it.
Bookended by parklands, steps from trains, and barely three minutes stroll to Newmarket Village dining, shops, and cinemas, it’s an incredibly unique investment, reno, or redevelopment prospect (STCA), with the scale, scope and position to support buyers with even the largest of ambitions.
Consider it a goldmine in its current state, continue to lease and land bank; renovate or redevelop to easily further boost returns, or, capitalise on its extraordinary parcel of land, transform into one substantial family residence, and be rewarded with one of the suburb’s most magnificent homes (STCA).
For keen creatives, it’s the opportunity of a lifetime. Boasting high, pressed metal ceilings, timber floors and VJS, the original Queenslander here lends itself easily to a luxurious new look; there’s also potential to remove the second dwelling, add a pool, and still have plenty of space left over to pull off your dream outdoor design (STCA).
With the full breadth of opportunity including potential to subdivide, or split and strata title, investors and redevelopers will be quick to recognise this is one of the last opportunities of its kind. In a precinct where professionals, students, medical staff, and families flock for its close access to the CBD, great schools, and thriving dining scene, there’s a phenomenal growth forecast with the major, city-shaping wave of investment that’s now centred around the nearby Victoria Park Olympic Precinct.
The perks of this position are simply impossible to overstate. Close to top-rated schools at St Columba’s, Grammar, Marist, Mt. Alvernia and Padua, it’s got access to gyms, Coles, and all the daily essentials on-foot, with talked-about dining venues nearby including Pepe’s Mexican, Newmarket Hotel, and Antica Italian in Wilston Village. Located for a seamless weekday commute, it’s a stroll to city and QUT buses, while there’s plenty to do on weekends with scenic bike paths, Northey Street markets, and Banks Street Reserve trails all within walking distance.
Key highlights:
- Incredibly rare 1075sqm on 3 Lots
- Extremely workable corner parcel, encompassing three lots
- Powerhouse investment, that is always fully occupied and fetching an average of $316.25 per apartment ($131,560 pa)
- With a renovation you could easily achieve $500 plus per apartment if offering as furnished and inclusive of electricity, water and internet ($208,000pa+)
- Potential to partially demolish (Second dwelling), subject to council approval
- Polish, redevelop, add value & increase returns (STCA)
- Strategically phase out leases, split & strata title or subdivide (STCA)
- Acquire a rare 1075sqm & transform into one substantial family home
Accommodation
- Original Queenslander comprising 5 self-contained units (4x 1 bed + 1x studio flat)
- Second dwelling comprising 3 self-contained flats (3x 1 bed)
- All flats ft. individual bathrooms facilities, gas kitchen
- Individually metered water, shared laundry facilities
- Three covered car spaces + extra off-street parking
Location
- 190m stroll to Newmarket Village dining, Coles, gyms & Reading cinemas
- 600m stroll to Newmarket train station
- 80m stroll to parks, playgrounds & bike paths
- 5.6km drive to Brisbane CBD
- 3.3km to Victoria Park & proposed Olympic stadium
- Close access to QUT Kelvin Grove & Gardens point
- Prime medical precinct, close to RBWH, QIMR & UQ Herston
- Close to top schools incl. St Columba’s, Grammar, Marist, Mt Alvernia & Padua
