1, 2 or 3
This is an interesting proposition. A liveable Queenslander style house that could be renovated into something special, sitting on 809m2 of North/South facing land, zoned LMR2/3 and with absolutely cracking city views! The hardest decision you have to make is what direction to take next, as there is definitely an idea that land banking the site could work. So too a major renovation (especially if owner occupying). You could subdivide and create one new house, or subdivide and have a duplex behind, or perhaps even create 3 new townhouses behind. Do you go no new dwellings, one, two or three? Decisions, decisions! The property is located in a very quiet street within a premium pocket with possibly the only negative being the 8m of fall to the street, however, this fall will also allow the cracking views to be achieved from every dwelling, no matter which development you choose to proceed with. Our numbers range from 17.5 to 22.5% equity gain, depending on the scenario, however, the product will be unique so there is every chance of achieving higher end values. Buyers at $1.2m, which is only just above the $1.15m Government assessed Site Value.