Looking for a great investment opportunity? This large 1791m2 block in Petrie could be just what you’ve been waiting for.

Only a stone’s throw from the centre of town and the railway station, this gently sloping block has a development application approved for nine three-bedroom units, each with a single lock-up garage. The units are in two blocks, so easily could be built in two stages, building stage two when the units in stage one are sold. Of course, you could also amend the plans subject to council approval if you had a different vision for the development, or wanted to build more, smaller units.

While you’re finalising your plans, you can sit back and relax, with an old-style three-bedroom house on the site rented at $250 a week helping pay the mortgage until development starts.

Features at a glance:

* DA approved for nine three-bedroom townhouses
* Gently sloping 1791m2
* Adjacent to school and close to shops and train station
* Old house leased at $250 a week until January 2014

The vendor’s plans have changed and his instructions are to bring all reasonable offers to the table.