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Tricks and Twists


This property has a few tricks up its sleeve, as well as a few twists to the point it is difficult to know which option to run with! On offer is a character house that must be retained on 810m2 of land in a fabulous elevated inner-city location, with quality views to the North. In all honesty, it has to be worth the asking price or near it as a straight renovator house on a big block, however, you know us – we are never one to settle with straightforward! The site is zoned CR2 but comes with an approval to shift and raise the house, then build 3 townhouses behind it. This approval is geared towards by the room rental and could be your own personal gold mine, however, there are complications with this (read on to find out more!). An alternative option would be to reconfigure the dwellings to be more owner occupier friendly. Yet another option to explore would be to shift the house forward and do a rear lot subdivision, with land, especially in this area, incredibly hard to come by. There are positives and negatives to all options, and unfortunately no numbers are great, but what we can tell you is this sized block with these options and the inner-city location make for a good combo at the proposed $1.1m buy price. It is also off-market and on-market we think it would likely sell for more.

Twinning!


Twin properties plus winning margins = twinning! Here we have two 1012m2 side by side properties, each containing a house. They are zoned LR and the plan is to create 2 x rear 600m2 lots whilst retaining the houses on two 400m2 front lots. The property is located in a quiet street and handy position within an outer suburb of Brisbane. Our numbers indicate approximately $188k equity gain without applying any escalation rates. Buyers at or just over $1.2m.

Up Up Up


This 810m2 site is in a superb location and consists of two houses and an approval for 5 townhouses, however, we don’t like these plans and the site allows for so much more, with 6 storeys being possible. So instead, we are proposing 20 units, a lot of them achieving a city view. Our numbers indicate approximately 28.5% equity gain, which in all honesty is borderline but there’s a few twists and turns to this one which we’ll need to discuss and explore further. And for those not ready to develop immediately, the fact the site comes with two houses will make holding it and land banking just that little bit easier. At $1.5m (approx) buy, you are also getting two houses at about market value for what they are. It means long term you have growth prospects available to you from the existing DA, the potential 6 storey development, or natural growth for each house on their own.

Something Different


We don’t often consider or send out individual units, but in the current climate there’s a lot to like about this one, and it makes sense for the passive investor. So why do we like it? Firstly the location is brilliant. It is in a semi-busy location, but you kind of expect that when you consider it is super-inner city and a short walk to every attribute that attracts tenants that you can think of. Secondly, the design of these units effectively creates a dual key arrangement. We’ll need to check the legalities of it, but on the assumption it is ok, each unit is a 3 bedder, but one bedroom is self contained with a kitchenette and own entry. The rest of the unit effectively operates as a normal 2 bed, 1 bath unit. This setup is bang on perfect for the location. Thirdly, the price of around $550k appears to be about the value of a comparable 3 bedroom unit without the dual key setup, so you can achieve higher rental returns for the same outlay. Fourthly, the complex is attractive and was built in only 2013, so should still have some depreciation benefits available to it. Finally the setup will allow two sets of rent and a higher rental return, all within a super tight rental market where people are fighting for their new rental home. Current market rent as a 3 bedroom unit is about $530pw, but our research indicates more like $630pw should be achievable if rented separating (noting electricity and water are likely included in the rent). All of this makes this unit an excellent proposition for the passive investor. Buyers at $550k.

 

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