An exceptional opportunity awaits the savvy developer or investor to secure this prime site in the highly desirable suburb of Alexandra Hills, complete with valuable Development Approval (DA) for a significant project.
Key Highlights of the Offering:
Development Ready: The approved plans are for a multi-level apartment complex, comprising 32 x 2-bedroom apartments and 4 x 1-bedroom apartments.
Holding Income: Benefit from immediate income with the property currently leased for a combination of $1,400 per week. The tenants are motivated to remain past their current lease expiry date of February 2026.
Dual Street Access Potential: The property is situated between Finucane Road and St Anthony Drive, offering potential for design flexibility and dual access points.
Existing Dwelling Features (Providing Strong Holding Income)
The property currently features a spacious dwelling split over two levels, ideal for rental income:
Downstairs features include:
• 4 generous bedrooms
• 1 well-appointed bathroom
• Kitchen
• Spacious living and dining area
• Large outdoor entertaining area
• Stunning salt water pool
Upstairs you'll find:
• 3 bedrooms
• 2 bathrooms
• Open-plan Kitchen, Living & Dining
• Outdoor entertaining area
• Convenient location close to schools, shops, transport, and parks.
Alternative Development Options (Subject to Council Approval):
While the existing DA is in place, the site's strategic location and size offer alternatives for future development (Subject to Redland City Council approval):
Retain the existing dwelling and construct villas, townhouses, or multi-level apartments.
Explore new designs leveraging the dual street frontage with access to St Anthony Drive.
This is a firm sale. The sellers are committed to selling and will be guided by the market.
Don't miss the chance to capitalize on this rare opportunity to acquire a development-approved site with a strong holding income.
Contact us today for the full information package, including the approved plans and leasing details.
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