This big original Queenslander is the perfect lazy investment for a small property developer or the astute investor. Boasting a prime two street frontage right in the heart of the bustling Clayfield growth precinct, the property is being sold with a current development approval for 4 x 3 brm townhouses.

The home is in original but good condition and is very liveable in its present state. It comprises 3 formal bedrooms plus two sleep-outs/ study occupying the original verandah spaces of the home. It has all the lovely features of a 1930′s Gabled Queenslander including the decorative hallway arches and deep box windows. The large original country-style kitchen is very functional and opens to a casual living area. The heart and soul of the home is the great east-facing covered deck with a wonderful tropical garden outlook.

The options are boundless for this property.

Develop
The property has a current Development Approval for the construction of 4 x 3brm townhouses. Although the home is eligible for character protection, there is a permit to remove the dwelling current until October 2010. The property is also being offered at the price of $580,000 for vacant land value if the home is not required. Plans and documents relating to the development approval are available on request.

Rent
The property is located in one of Brisbane’s booming growth regions and is on the doorstep to Toombul Shopping Centre and the new East West Arterial Rd to the Airport and Gateway. With easy access to bus and rail transport and its close proximity to the states leading race courses, the property will have a strong market appeal to tenants. Given the shortage of similar sites in the area, why not hold until you are ready to re-develop and in the meantime earn income from this very sound investment.

Renovate
This property has excellent main road exposure and will renovate superbly for a private home office with good side street accessibility. Why not lift the house and live upstairs and have separate work quarters u