206 & 208 Wardell Street
Enoggera, QLD 4051

Overview

Ideal Development Opportunity with Holding Income

Located on the border of Enoggera and Ashgrove, this unique opportunity offers two post-war homes situated on a substantial combined land area of 1,184 square meters with approximately thirty meters of frontage. This property presents an ideal prospect for future development or land banking, currently generating an annual rental income of $60,000.

The land is well positioned for subdivision into three residential allotments, each featuring a frontage of 10 meters to Wardell Street, subject to council approval. This makes it perfectly suited for the construction of new family homes within a highly sought-after and tightly held residential area.

Conveniently located just 6 kilometers northwest of the city center, the property offers easy access to a range of excellent educational institutions, sporting clubs, and parklands. It is also only minutes away from Ashgrove and Newmarket shopping centers. Nearby schools include Oakleigh State School, Marist College Ashgrove, Mt St Michael's College, Mater Dei Primary School, and St Finbarr's Primary School.

Access to major road networks is facilitated by Browns Dip Road, which connects to Kelvin Grove Road via Banks Street. This provides a short drive to the Inner City Bypass (ICB), Clem 7, Legacy Way, and Airport Link tunnel networks, as well as Wardell Street itself. Public transport options are also convenient, with a bus route at the end of the street and Enoggera Train Station located just 1.5 kilometers away, making commuting straightforward.

The two homes included in this offering are as follows:

• 206 Wardell Street, Enoggera: A post-war home on a 592 square meter block, currently leased to a business. It features a wide 15-meter frontage and additional car storage facilities.
• 208 Wardell Street, Enoggera: Another post-war home on a 592 square meter block, also leased to a business. This property includes a wide 15-meter frontage and a double lock-up colorbond shed with extra storage space.

The combined rental income from these properties is $60,000 per annum, equating to approximately $5,000 per month, providing a steady holding income while considering future development plans.

This offering represents a rare chance to secure a significant landholding in a prime location with excellent development potential and immediate income generation.

Location