10 Existing Townhouses With 12-Storey Upside - Chermside Qld

Posted by Development Ready on Mar 17, 2017

Located only 150m from the centre of Chermside, this perfectly positioned site consists of 2,375sqm of land and is justifiably a valuable development site opportunity. Exclusively marketed by LJ Hooker, Real Estate and Development Sales Specialist, Michael Giraldo, this site has a Mixed-Use zoning - MU2, 12 Storey height.

Currently consisting of a 10-townhouse complex with potential to produce circa $200,000 income per annum with a highly viable opportunity to capitalise further on its expansive land size and zoning status. Built in 1995, the 10 townhouses on offer are a combination of 6 x 1 storey 2-bed and 4 x 2-storey 3 bed. Body corporate is self-managed by the owners and currently is a very modest $600 each per annum.

Chermside is officially identified as a Principal Regional Activity Centre of Brisbane - one of only 4. It’s accessible by high quality public transport and serves as a focal point for employment, administration, cultural, entertainment, retail and service activities. Currently the first stage of a new $355M redevelopment of Westfield Chermside is in progress and due for completion in April this year.

Overall, this site is perfectly located in one of Chermside’s most convenient sections, enabling it to achieve a Walker's Paradise Walkscore of 96 out of 100. With a current average house price of $572,000 (3 Bed), potential return for redeveloping this site is very encouraging. Importantly the prospective purchaser/developer, can take advantage of a current on-going income stream, enabling them the option of land banking this site for the longer term if they desire. 

"Chermside is a well-positioned locality for developers seeking an opportunity to capitalise on buyer demand for readily accessible lifestyle options. This site combines the opportunity to construct volume dwellings and also offer the end user affordability plus a prime location – sites like this are highly prized by developers and I expect interstate and international interest competing with local parties. Initial feedback from our database marketing prior to launch has been very encouraging.” -  LJ Hooker, Real Estate and Development Sales Specialist, Michael Giraldo

- Highly valuable Chermside landholding of 2,375sqm
- Currently a 10-townhouses complex
- Huge redevelopment potential - Mixed-Use zoning - MU2, 12 Storey height
- Capacity to produce circa $200,000 income per annum from existing townhouses
- Central Chermside locale – on the doorstep to retail, public transport, commercial and more

Please note that all financials, measurements and distances quoted are approximate only.

23 Latham Street Chermside is for Sale by Negotiation

For more information please contact exclusive marketing agents LJ Hooker Chermside.

Michael Giraldo: 0433 508 238

View listing: https://www.developmentready.com.au/properties/23-latham-street-chermside-qld-4032