The opportunity comprised a 5,623m2* prime inner city development site on three titles located approximately 3.5km from the Brisbane CBD. The site comprised 3 residential dwellings and 20 room student accommodation with a gross average rental income $235,820* p.a.

The site was sold with a Development Approval for a 4 stage development incorporating refurbishment of the existing dwellings with 44 units to be constructed on the balance area.

The strength of enquiry was in response to existing development approvals in addition to the sites close proximity to major health, recreational, educational, transport & shopping facilities.

 

 

Sale Analysis*
Method of Sale:Tender
Marketing Timeframe:7 Weeks
Sale Date:April 2011
Total Enquiries:48
Total Offers:4
Total Realisation:$4,620,000