Every which way you look at this property it makes sense.

Right suburb
Priced to leave a profit for the developer
Easy council approval
Strong rental income “as is”

The 1,240m2 Lot is approvable under the current town plan for a variety of low density residential uses including an existing approval for 6 townhouses (2 x 3 bed, 4 x 2 bed). The easiest way to develop the property is to build a second residence at the rear with a Community Title across the two dwellings.

Plans are currently drawn and ready for approval showing the Lot subdivided in two Lots of 711m2 (rear) and 409m2 for the existing residence at the front of the block.

The high set Queenslander at the front of the property is in very neat and tidy condition with a current rental value of around $350 / week. It is fully air conditioned and absolutely ready to occupy.

Do your sums
What is a 3 bedroom, high set Queenslander on 409m2 worth..?
What is 711m2 of vacant land worth..?

There is money to be made here. Don’t miss out.