10 TOWNHOUSE COMPLEX ON 2375sqm of MIXED USE LAND, 12 STOREY
High Yield with Huge Development Uplift
Michael Giraldo from Giraldo Property is proud to present exclusively to the market this rare investment development opportunity to buy a 10 townhouse complex capable of producing circa $200,000 income per annum with an opportunity to capitalise on the 2,375sqm of Mixed Use land now or in the future.
Dwellings
Built in 1995, the 10 townhouses on offer are a mix of 6 x 1 storey 2 bed villas and 4 x 2 storey 3 bed townhouses. The 2 bed lowset villas are comparatively spacious ranging from 92sqm to 98sqm internally and the 3 bedrooms are all approx. 132sqm internally. The townhouses feature large courtyards up to 170sqm. All townhouses are in good order with the majority featuring airconditioning and some townhouses being updated with a coat of paint and carpets. Townhouse 8 has had an extensive renovation with a fresh coat of paint, brand new kitchen, new tiles downstairs, new carpet upstairs and a pergola in the courtyard.
The townhouses have low vacancy due to being only 150m from the centre of Chermside with Westfield Chermside and Bus Interchange with some tenants in the complex residing for over 10 years.
Body corporate is self managed by the owners allowing an easy transition to the new owner. Total body corporate fees including sinking and admin fund are very cheap at only $600 per annum per townhouse.
Site Specific
The site area totals 2,375sqm with approx. 20m frontage to Latham St, 42m frontage to Hamilton Road and a depth forming a cross block link to the two street frontages of 75m. There is significant development uplift on a parcel of land of this size and with mixed use zoning, MU2 12 Storey, so close to high order transport and Westfield Chermside commercial precinct. The Chermside neighbourhood plan identifies the location of the mixed use precinct as a strategic location adjacent to two major employment hubs and busway station.
Zoning
Mixed Use MU2 directly adjoins the Gympie Rd sub precinct, 15 Storey, to the East.
Within the Chermside Centre Activity Precinct, Mixed Use sub precinct of the Chermside Centre Neighbourhood Plan
Zoning and precinct allow up to 12 Storeys and 300% GFA, equalling 7,125sqm, subject to BCC approval
No Flood Overlay
Key Highlights
- Central "Chermside CBD" location, everything on your doorstep
- High yield allowing investor developer to land bank
- Huge development uplift with zoning
- Opportunity to value add and increase rental returns|
- Walkscore 96 out of 100 Walker's Paradise, daily errands do not require a car
Capitalise on the new $355M redevelopment of Westfield Chermside giving us 95 new retailers, 12 new restaurants and 13 new street food style vendors.
See below Westfield Chermside redevelopment:
Close to major Hospital precinct of Brisbane with quick and easy connection to Gympie Road
Local Area
Chermside is identified as a Principal Regional Activity Centre of Brisbane; one of only 4.
A PRAC is of regional significance and is accessible by high quality public transport and serves as a focal point for employment, administration, cultural, entertainment, retail and service activities.
150m to Westfield Chermside Shopping Centre and bus interchange, express to CBD
200m to John Patterson Park
500m Newly constructed Chermside Library and North Regional Business Centre
600m to Holy Spirit and Prince Charles Hospitals and Burnie Brae Park
700m Marchant Park and Seventh Brigade Park
Quick access to tunnel; airport link, Kedron entrance 5 min drive
All dimensions and measurements are approximate.
DISCLAIMER: All information contained therein is gathered from relevant third party sources. We cannot guarantee or give any warranty about the information provided. Interested parties must rely solely on their own enquiries
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