Situated in the heart of Red Hill, spanning 1217m2 this elevated double block features dual frontage and a character pre-war dwelling that has been split into two flats. Occupying a 610m2 allotment with frontage on Musgrave Road, the existing dwelling provides demonstrated income potential to return on two separate tenancies.
The current layout presents two mirrored flats that include a separate living area, an eat-in kitchen and adjacent sun room at the rear of the property, two good-sized bedrooms. A cash injection would be required to meet housing standards.
Zoned LMR, there is also huge potential to explore development opportunities to enhance the original character of the building and increase occupancy and earning potential across both lots (subject to council approvals).
The 607m2 allotment fronting Cambridge Street is unimproved, providing excellent potential to draft designs for an expansive architect designed home in the ideal position showcasing city views and benefiting from access to desirable local amenities within a reputable school catchment.
This rare opportunity to secure two adjacent allotments zoned LMR in the city fringe locale of Red Hill, presents excellent scope for buyers to explore development options.
Located just 3 kilometres from the CBD and a 4 minute drive to the Kelvin Grove Urban Village, QUT campus and Royal Brisbane & Women's Hospital. The busway is located directly outside and is a convenient transport option. Botanica and Le Coin Bistro are popular with the locals. Other local highlights include the iconic Red Hill Cinema and Woolcock Park. Within the school catchments for Petrie Terrace State School & Kelvin Grove State College. Popular choices for private schools include Brisbane Grammar, Girl's Grammar and St Joseph's College (Terrace).
Inspect by appointment or contact George Hadgelias 0403 062 062 Max Hadgelias 0411 276 372 for further information about submitting your expression of interest.
**Any reference to development is general in nature and is subject to relevant council approvals. It is the responsibility of prospective buyers to make their own enquiries and seek professional advice prior to engaging in any negotiations. **
