*Information Memorandum available on request*
A vacant 759m² plot of prime land, zoned LMR - Low Medium Density Residential, located in one of East Brisbane's most sought-after residential areas and adjacent to Woolloongabba's high-demand PDA (Priority Development Area) precinct.
This property presents a unique opportunity:
Complete the existing DA & BA approvals for a high-yield SDA (Specialist Disability Accommodation) development, with an expected gross income of $1,009,669 p.a., backed by government funding with built-in CPI increases (net returns after management estimated at $829,252.10 p.a.).
Alternatively, land bank for potential capital growth while your team designs a high-end luxury development-be it terrace homes, an apartment block, or land subdivision-capitalising on stunning city views (STCA).
An experienced builder with a proven track record in SDA projects is ready to commence construction immediately. Builder quotes and project information are available on request. Additionally, a leading SDA provider is prepared to lease the development upon completion.
Financial Summary:
Expected Gross Income: $1,009,669
Minus Outgoings: $180,416.90
Net Income: $829,252.10
Outgoings Breakdown (p.a.):
$18,450 - Land Tax
$100,966.90 - Property Management (10%)
$14,000 - Insurance
$3,000 - Electricity
$18,000 - Maintenance
$12,000 - Rates
$12,000 - QUU (Water)
$2,000 - Fire System
Total Outgoings: $180,416.90
Build Quote: $4,404,500 + GST (with SDA builder ready to start)
Expected Completion Value: $10,300,000 - $11,520,000
Key Features:
-DA & BA Approvals in Place: Fully compliant, shovel-ready SDA project featuring 9x SDA High Physical Support apartments and 1x OOA (On-site Overnight Assistance) apartment.
-ICN Credits: $219K in ICN credits, including $136K for 6 approved units and $83K pending for 4 units (State Government incentive).
-Low Medium Density Zoning: Suitable for terrace-style complexes, land subdivisions, apartments, or SDA developments (STCA).
City Views: Potential views from top levels.
-Land Preparation Complete: Cleared, benched, with acoustic fencing installed.
-Double Street Frontage: Access via Kingfisher Lane.
Proximity to Woolloongabba PDA: Positioned alongside a high-growth precinct.
Location Highlights:
-Just 2.5 km from Brisbane CBD.
Walking distance to Woolloongabba shopping precinct and The Gabba Stadium.
-Only a few hundred metres from the Inner City Cross River Rail project (completion anticipated in 2025).
-Surrounded by public transport, cafés, restaurants, and retail options.
The Opportunity:
This property is ideal for:
Builders or developers seeking a vacant inner-city LMR2 site with city views.
NDIS-focused developers looking to start a project with government-backed, high-yield returns while addressing the growing demand for quality Specialist Disability Accommodation.
For more information or to request a copy of the Information Memorandum, please contact Domenico Bellino.
Disclaimer:
While we have taken every care to ensure the information provided is accurate, we disclaim all liability for any errors, inaccuracies, or misstatements. Prospective purchasers are advised to conduct their own enquiries to verify the information contained herein.
Property ID: #L31849859
