87 Crescent Road
Hamilton, QLD 4007

Overview

Exclusive Investment or Redevelopment Opportunity on Hamilton Hill

This exclusive investment or redevelopment opportunity is situated atop Hamilton Hill, offering a secure holding with high returns and versatile options on a substantial 888 square meter allotment. The property consists of a six-unit complex, presenting an outstanding prospect for investors or developers seeking a prime location with strong income potential.

The complex currently generates weekly rental returns of $2,835, equating to an impressive annual gross income of $147,420. This solid income-producing asset comprises one two-bedroom unit and five one-bedroom units, each designed with functionality and comfort in mind.

Each unit features a private patio, a living area, and a functional kitchen equipped with a freestanding cooker. The bedrooms are well-sized, complemented by tidy bathrooms and lock-up garages. Laundry facilities are either internal or shared, providing convenience for tenants. The property is fully tenanted, offering an immediate income stream with the option to continue renting or to landbank for future redevelopment.

Buyers have the potential to redevelop the site now or in the future, with existing concept plans available for constructing multiple luxury tri-level townhouses. Alternatively, there is the flexibility to design a bespoke multi-dwelling development, subject to council approval (STCA). For families, the site offers the opportunity to build an opulent dream home, taking advantage of the beautiful river breezes, exquisite city views, and the enviable hillside position just steps from the scenic riverfront and local lifestyle precincts.

Property highlights include:

• Strata-titled six-unit complex on an 888 square meter allotment zoned LMR2
• Weekly income of $2,835 and annual gross returns of $147,420
• One two-bedroom, one-bathroom, one-car units and five one-bedroom, one-bathroom, one-car units
• Each unit includes a patio, living area, and functional kitchen with a freestanding cooker
• Good-sized bedrooms, tidy bathrooms, lock-up garages, and internal or shared laundries
• Option to landbank and continue renting the fully tenanted complex
• Potential to construct a luxury family home or multiple dwellings (STCA)
• Concept plans available for a tri-level townhouse development

Located in a premier position on Hamilton Hill, this property offers buyers access to an exclusive riverside precinct. The famous riverwalk is just 500 meters away, with shopping and dining options available 1 kilometer away at Racecourse Road. Portside Wharf, featuring cafes, restaurants, Woolworths Metro, and Dendy Cinema, is only 2 kilometers away.

Nearby recreational facilities include Crosby Park, Northshore Tennis Centre, Royal Queensland Golf Club, and the racecourses at Eagle Farm and Doomben. The site is conveniently located 5 kilometers from Brisbane's CBD and 10 kilometers from Brisbane Airport. Educational institutions such as Ascot State School and private colleges are close by, while public transport options include bus stops, Bretts Wharf ferry, and Ascot train station. Major roadways including Kingsford Smith Drive, Gateway Motorway, and the Airport Link Tunnel provide easy access to the city, airport, and coast.

This property represents a rare opportunity to secure a high-yielding investment or a prime redevelopment site in one of Brisbane's most sought-after locations.

Location