Prize development opportunity in the heart of Brisbane
Take advantage of the excellent development potential underlying these two well-located, traditional properties. This is a rare chance to purchase a sizeable piece of real estate just a stone’s throw to the Brisbane CBD. The two properties – nestled just two streets from the Princess Alexandra Hospital and just minutes’ drive to Greenslopes Private Hospital – cover an area of 1,012sqm and boast a 20 metre frontage.
Zoning for both lots is HDR2 High Density Residential Zone, which offers the potential to build a residential dwelling complex up to 12 or even 15 storeys (subject to approvals). Alternatively, various other uses (such as residential care or retirement facilities) are possible under the Eastern Corridor Neighbourhood Plan Area (Buranda Precinct).
While you decide on how to progress your development plans, the two properties will provide an excellent income stream. 7 Carl Street is a well-proportioned timber four-bedroom home benefitting from two bathrooms and off-street parking for at least two vehicles. With a good-sized back garden, it is ideal for a family or professionals sharing a home. 9 Carl Street has real street appeal with a classic double-gabled façade. Inside is a neat and tidy four-bedroom home on a great-sized block.
Both properties are perfect for those working in the inner-south of Brisbane or in the CBD. A current rental appraisal suggests a rental of $700-750pw for number 7 and $650-700pw for number 9, providing a possible total gross rental income of $75,000 per year.