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Angles


There’s numerous angles to consider with this property, all stemming from the size of the land and the size of the house. On offer, off market for now, is a super large dwelling on 820m2 of LMR land with a wider frontage than usual. It is located in a fabulous suburb, though on a fairly busy road. The land is occupied by a large dwelling split into two (we’re yet to determine whether it is a genuine duplex or a dual occupancy house), each half featuring 4 bedrooms, with a total of 8 bedrooms, 2 bathrooms and 2 kitchens across the whole lot. It appears to be solid but largely original 1980’s inside. There’s three distinct angles we can approach this one from: use the two existing lots, subdivide into 3 lots, or develop townhouses. They all have their own merit. Buyers at $1.6m should call Justin on 0410511535.

Wide


The first thing that stands out with this property is the 47m wide frontage – that’s wide! Then you realise not only is the house large, but it is to the side which will allow for a two lot subdivision whilst retaining the house. Don’t care about the house? Demolish and produce three lots! There’s still a few things associated with services and vegetation to work through with this one, but if it all comes out positive, we’re talking a circa $260k equity gain for the simpler option with the house retained, or circa $360k if we demolish and develop 3 lots. It is going to auction, but we see this as a positive as there will be buyers without the time or experience to work through some of the issues, so we anticipate a smaller buyer pool. Buyers around $1.5m should contact Justin on 0410511535.

Can't Ignore It


This is an odd one. We know this is good buying. We love the location. If we were ready to buy we’d buy it ourselves. And yet despite all of this our numbers don’t seem to stack. On offer is a 540m2 (approx) LMR property with a nice and wide 17m frontage, located in a quiet, but ridiculously convenient street, and occupied by a decent sized 4-5 bedroom home on the block. This property suits a 2 lot subdivision for either small lot homes or rooming houses, but the numbers for both appear to fall short. Gut feel is higher end values for the houses and higher rents for rooming will be likely, but we can only work with the evidence at hand. Further, this is a site that may benefit from council’s review into the LMR zone. We’re recommending this one for a land banker, an owner occupier, or a builder/developer who can construct for less than the rest of us. Buyers at $1.26m should call Justin on 0410511535.

Lucky Seven


Going to auction is this extremely well located block of 7 strata-titled units with the potential for cash positive returns. Currently being managed as a professionally managed Airbnb, at our proposed purchase price the gross return is in excess of 11% pa with a net return around 7.7% gross (excluding interest on finance). Airbnb not your thing? We’re still likely talking around a 6.7% gross return as a fully furnished, utilities included standard rental (it is being sold fully furnished). There’s 6 x 1 bed units, a perfect product for the location, plus a 2 bed unit that can likely be converted to a 3 bed if you wanted. This very inner-city purchase is an ideal buy and hold. Buyers able to buy at auction for $2.8m should call Justin on 0410511535.

 

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