Golden Opportunity to Subdivide In One Of Brisbane's Most Sought After Streets
Property ID: 20067391
Experienced Developer is seeking a Joint Venture Partner. All the hard work will be done for you.
Purchase this property well under bank valuation price, then add value by sub dividing into 2 lots.
The sub division will be lodged under the Brisbane City Council's RiskSMART application process, meaning the approval process should be very quick and straightforward. The aim is to have the DA approved before settlement.
An opportunity to develop in this exclusive Brisbane suburb is a true rarity. The 1,305m2 block has a freestanding charismatic 6/3/2 Queenslander set toward the front, which provides an opportunity to subdivide and build a new high end home on the additional land.
Purchase Price: $2.1M (Note, Bank Valuation of $2.5M)
Purchase costs, Renovation & Sub division costs $475K
Estimated sale price of existing house $2.4 Million
Construction Cost of new house $850K
Estimated sale price of new house $1.9 Million
Project Time: 9 months
YOUR ESTIMATED NET PROFIT SHARE: $479K
* 500m walk to a closeby train station
* 1305sqm block
* 8 schools within a 1Km radius, including some of Brisbane's highest rated public and private schools.
* 20m frontage with a depth of 65m
* 6 Bedrooms
* 3 Bathrooms
* Home office,
* 2nd Living area
* 12 foot ceilings
* Fully ducted air conditioning
* Large, covered front and back decks
*9Km Drive to the CBD
For more information please call We Find Houses on 1800 600 890.