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Truly a Rare Opportunity to Achieve 9%+ Returns :: Positive Geared Project
- Land: 810m² (0.2 acres)
Maximising returns is one of the key attributes to having a successful investment property. Finding the perfect one is tricky, and the due diligence is time consuming. So why not buy a project that has all the hard work done for you?
Our sellers have spent months getting the plans and approvals in place for this project, but have had a change in personal circumstances which have forced the sale of an enviable project. With council approval in place for two separate projects/dwellings on separate titles (5 self-contained 1b category flats each) and a building contract quoted and ready to sign, there is only one thing left to do, buy and start building upon settlement!
The location for this type of development is exceptional, with public transport only minutes walk away (train & buses), and easy access to two major universities (Griffith University Nathan Campus & University of Queensland). The site is situated only 9kms from the Brisbane CBD, and all amenities are within a few minutes drive.
- 2 vacant lots of 405 sqm (10.1m x 40m each).
- Already on separate titles. Two separate projects. Buy one project or buy both.
- Water and sewer already connected to each block
- 600m to Rocklea Train Station & Bus Stops
- Council approved for 10 self-contained 1b category flats (5 flats per dwelling). No shared or common areas. Completely self contained.
- Full plans, engineering & building specification documents available on request.
- Builder quoted for construction at approx. $463k each building ($926k total)
- Construction time quoted on daft building contract is approximately 6 months.
- Potential $145,000 p/a Gross Rental Income ($280 - $300 pw per unit)
- Estimated gross yield of 9%*
- 3km to the Yeerongpilly Green Development at the Brisbane Tennis Centre
- Similar developments in the area have been quickly filled with Griffith University students. Rent it furnished, unfurnished or a combination of both!
This is the perfect sit and hold situation for an investor. With returns this high, you will be buying more developments in the area to repeat this project in no time. Call Mark today for more information.
Features include: Close to Schools, Close to Shops, Close to Transport, Garden
810m² / 0.2 acres
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.
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