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Carve Off a Slice


Here’s a rare opportunity to potentially retain a family home whilst carving off a vacant block of land. Not only would it suit developers, but also owner occupiers of the existing house, owner occupiers for a newly developed house on the proposed land, as well as a land banker. The site currently consists of a 4 bedroom, 2 bathroom home with a double garage and two living areas that sits on 1140m2 (approx) of land with a super wide frontage. We’ll lose some of the house as part of the proposed development, but the major component is retained. Our numbers indicate about $270k equity gain is possible. Buyers at $1.4m or just over should call Justin on 0410511535. 

Choices


We have the choice of two properties here, both having strong merit for different reasons despite a couple of recent land sales working against us. The sheer lack of stock, let alone stock that can be subdivided and priced in the bottom half of the market tells us loud and clear these are potential suitors! Both lots are between 600m2 and 670m2 with a wider than normal frontage, both lots are within walking distance of quality shops and train, both contain dated but liveable and rentable homes, both are relatively flat, both can be subdivided, and both are sub $1m, in fact we’re talking as low as $800k for one of them. These are candidates to buy and hold, subdivide for new homes or to develop rooming houses, with the numbers for rooming on the cheaper site working for immediate development. Buyers at about $800k and $950k respectively should call Justin on 0410511535. 

Not So Silly


Our initial thoughts on this one was that the price was far, far too much for a block of 4 units, however, when it is only when you study what is under the land that you realise the price isn’t so silly after all. The land is 607m2 with a DC1 zone and a 4 storey limit in a premium location, with every dining and lifestyle amenity at your fingertips. We’re yet to draw it, but maths tells us we should be able to achieve 7 x three bedroom units plus a shopfront (subject to advice and further work). There’s huge money being paid at the moment for units right across Brisbane, and those that are geared to owner occupiers in lifestyle locations are at the absolute top of that list, which is why we’re able to talk $1.65m end value (average) per unit here. Our numbers are showing approximately 33% equity gain. Buyers at $2.7m. 

It's a Jigsaw Puzzle!


This is a very interesting property for it’s size, uniqueness and flexibility. On offer is a 4 ensuited bedroom modern home, with a standalone 2 bedroom granny flat, located on a corner site, which allows each dwelling to operate fairly independently. As a result of this the property comes with a variety of options, which may include any mix of renting each dwelling separately, renting each bedroom separately, conversion of some spaces into exclusive use spaces, full on conversion to rooming accommodation, owner occupy some and rent out some, or owner occupy the whole lot. Looking purely from a rental perspective, we should see gross rent returns ranging from approximately 5.5% gross (easy option) to 8% gross (rooming option), and anywhere in between. There’s a lot going on here so what path you take will largely be dictated by your situation and strategy. Buyers around $1.3m should call Justin on 0410511535.  

 

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