Offers Around $1.9 Million
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23-27 Raffles Street, Mount Gravatt East QLD 4122

Block size: 1320 m² approx.

Fantastic MDR (5 Stories) Residential Development Site With Holding Income $1240pw

"Private Inspection By Appointment" - Please Call Tim Heffernan now to arrange a private inspection.   

FULL TOWN PLANNERS ADVICE REPORT AVAILABLE - Email Tim now to request further information and get a copy of the report.

This is the perfect opportunity for you to secure land in the popular and convenient Mount Gravatt East Suburban Living Area Precinct with holding income of $1,240 pw. This is a fantastic immediate and long-term land banking Medium Density Residential (MDR) investment and development opportunity. 2020 has seen Brisbane Property Market Surge again and it is an excellent time to secure a high-quality development site.

Approximately 30m frontage x 44m Deep (1320m2) in a street that has been mostly developed, means very little competition for your project. Together with MDR zoning and the neighbourhood plan, the site can be developed for higher density residential uses including multiple dwellings, rooming accommodation, retirement facility, short-term accommodation and residential care facility.

Research suggests that larger units with more parking spaces are selling very well for substantially higher prices than standard investment grade 2-bedroom apartments. This site has the space for up to 35 parking spaces which lends itself very well to this larger apartment target market and better profit margins.

Prime location in the beautiful, leafy Mount Gravatt East, perfectly situated only minutes away from Griffith University, Westfield Garden City, quality private and public schools. CBD direct public transport or short 15min commute to downtown Brisbane. Just a short 200m walk to Coles & Woolworths shopping centre, and Mount Gravatt Café's, Restaurants and Social Precinct.

You get Great Views to Mount Gravatt Nature Reserve and to Brisbane CBD. This is a very high location with great views over the whole neighbourhood.

The site is NOT subject to flooding, there are no easements encumbering the site. The current houses and vegetation are not protected and can be removed within the scope of a normal building permit issued by a private certifier.

Area Features:

· Short 400m Walk to Shops, Café's and Restaurants
· 200m Walk to Supermarket - Coles and Woolworths Mall
· Short Drive or Bus to Griffith University campuses
· Eight-minute drive to primary school
· Three-minute Drive to high school
· Short drive to Westfield Garden City
· 200m walk to bus stop
· Selection of Quality Private & Public Schools
· 11Km to Brisbane CBD (15 min Commute)

Call, Text or Email Tim Heffernan now to get your copy of the Town Planners Advice Report and Secure this property for your future.

Features include: Close to Schools,Close to Shops,Close to Transport,Mount Gravatt neighbourhood plan MDR Zoning (up to 5 stories)
Can I afford this property?


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Key details

Property Type:Land
Plan Type:RP
Block Size:1320 *
Stamp Duty:$89,775*
*These are approximate values based on available information.

Past sales

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Ray White Rochedale

Maps and area information

Block information
Block size: 1320 (approx)
Legal description: 17/RP13380
Block Map
Measurements are estimates only and based on data provided under licence from © PSMA Australia 2021.
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A block's planning zone defines how that land can be used and what can be built on it.
A right to use a part of land owned by another person for a specific purpose. The most common forms of easements are for services, such as water, electricity or sewerage.
The value of a block of land without any buildings, landscaping, paths, or fences. This is different to the block's market value. A block's unimproved value is used to calculate rates and land tax charges.
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Property history

Suburb and property insights

Median salesMedian sales
Average Age
35 years
Mount Gravatt East's Property Profile
Mount Gravatt East's Occupancy

Contact agents

Ray White Rochedale

Ray White Rochedale

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Tim HeffernanRay White Rochedale
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Listing ID: 179193220. This listing has been viewed 3 times. It was first displayed on 08/02/2021 and last updated on 08/02/2021.