8 Cadell Street TOOWONG QLD 4066
Under Contract

DESCRIPTION

NOTE: DA expires on 7 August 2025 based on Ministerial Extensions ... more information is available upon request.

This is a rare and exceptional opportunity for developers, builders, investors, and those looking to build on a 'rent-to-hold' basis or simply to 'land bank' as a wealth creation strategy. The hard work has already been done to mitigate the planning risks. Current development approval is for ten (10) apartments across three (3) levels, ground plus two (2), in the heart of the established and sought-after precinct of Toowong.

This 809sqm block offers the opportunity to commence a quick and profitable development, and with the 2032 Olympics fast approaching, southeast Queensland's future growth is predicted to be significant. The outlook indicates a significant upside, with the shortage of quality homes and extensive population growth outstripping supply in the greater Brisbane area. Opportunities such as this are 'rare as hen teeth'.

The brick-and-tile home is currently tenanted, providing immediate income, and the opportunity provides but is certainly not limited to:

* 809sqm relatively flat block of land with a 3 bed, 1 bath, 2 car brick and tile home;
* Current development approval for 10 apartments over 3 levels with a striking facade;
* Approval is for 9 x 2-bedroom apartments, & also includes 1 x 3-bedroom on top floor;
* Fa�ade has a striking appearance, with a design allowing for courtyarded apartments;
* The home has a tenancy in place until January 2025, providing immediate income;
* Tenant is desirous of staying on or can leave with the appropriate notice being issued;

Located in the established suburb of Toowong, it is known as the second business district for the greater Brisbane area. The Toowong Village Shopping Centre and Railway Station are within walking distance, and the CityCat and Wesley Hospital are nearby. A lifestyle position, it is only 200m from the Morley Street shops, which house a number of deli cafes, including the Toowong French patisserie. Couple all of this with the demand from the University of Queensland, and it makes for a prime investment suburb.

The Toowong area is renowned not only for its business connections with the medical fraternity but also as a tremendous educational precinct with easy access to Brisbane Boys College, Stuartholme, St Peters Lutheran College, Ambrose Treacy College, Brigidine College, St Ignatius College, plus the public schools of Toowong State School and the now sought after Indooroopilly State High.

A full information kit is available on request, and inspections are being conducted via both Open Homes and private appointments. However, with the current tenancy in place, options will be limited, so do not delay. All assistance will be given to achieve a timely sale.
*******
All information contained herein is gathered from sources we consider to be reliable. However, we cannot guarantee or give any warranty about the information provided. Interested parties must solely rely on their enquiries.

Note: This property is being sold by Expression of Interest and has not nominated a price. The website may have filtered the property into a price bracket for website functionality purposes only.