Positioned on a substantial 1618m² allotment in the heart of Weinam Creek, 65-67 Banana Street presents an exceptional development opportunity with outstanding long-term potential. Whether you´re looking to hold and earn strong rental returns from the existing property or capitalise on the site´s future by developing a seven-storey unit complex (STCA), this is a rare chance to secure a blue-chip investment in one of Redland Bay´s most exciting growth corridors. This visionary precinct will feature a vibrant mix of residential, retail and community spaces, including restaurants, cafés, a supermarket and other modern amenities—all designed to activate the foreshore and enhance liveability for residents and visitors alike.
The site features a four-bedroom and two-bathroom home currently leased at $620 per week, providing a solid holding income. Adding further value are 22 on-site car parks, each rented at $150 per month, delivering additional consistent revenue. This combined income stream makes the property a compelling proposition for investors seeking both immediate cash flow and substantial future growth potential.
Offering excellent waterfront potential, this site is zoned for redevelopment and set to benefit from upcoming infrastructure improvements in the area. With its generous land size and premium location, the possibilities here are endless—create a multi-unit development, landbank for future growth, or continue enjoying strong income while planning your next move.
Conveniently located just moments from the Redland Bay Marina and ferry terminal, you´re also only a short 10-minute stroll to Redland Bay Village, home to Woolworths, cafés, takeaways, and the iconic Redland Bay Hotel. Families will appreciate the close proximity to highly regarded schools including Redland Bay State School, Kimberley College and Calvary Christian College, while Victoria Point Shopping Centre is only 12 minutes away for even more retail and dining options.
- Large 1618m² block with redevelopment zoning
- Potential for seven-storey unit complex (STCA)
- Prime location in Weinam Creek growth area
- Strong rental returns and investment upside
- Walk to marina, shops, cafes, and transport
- Close to schools and major shopping centres
Call Josh Sherwood & Joel Stephenson today
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