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Overview
This rare block of seven units offers a blue-chip investment opportunity in the sought-after Hendra precinct, strategically located backing onto the Eagle Farm Racecourse. The property encompasses a substantial land parcel of 683sqm distributed over two lots, featuring a unique frontage exceeding 20 metres to both the street and the racecourse, providing an enviable street presence and potential for future development.
The non-strata arrangement eliminates body corporate fees, enhancing the investment appeal and flexibility for the astute buyer. Comprising six 1-bedroom, 1-bathroom units alongside a single 2-bedroom, 1-bathroom unit, each has its own dedicated parking space, optimizing tenant convenience and management.
Offered at auction with vacant possession, this property enables immediate re-leasing, refurbishment, demolition, or redevelopment subject to council approval, liberating the purchaser from existing tenancy constraints. Historical income under full tenancy reached just under $114,000 per annum, setting a reliable benchmark for rental returns with substantial upside potential.
The location is especially appealing for investors and developers, given the uninterrupted views of the racecourse providing a prestigious setting, close proximity to local cafés, dining precincts, Racecourse Village, and Portside Wharf. Connectivity is excellent with bus stops and Hendra train station within 650 meters, and easy access to Brisbane CBD and the airport.
Additionally, the property benefits from inclusion within the Hendra State School catchment and is near notable private schools and childcare centers, enhancing its appeal to a range of tenants or owner-occupiers considering redevelopment.
- Premium blue-chip unit block in tightly held precinct
- Significant landholding with over 683sqm across two lots
- No body corporate fees enhancing investment ease
- Vacant possession at auction enabling immediate control
- No tenancy constraints - flexibility to re-lease, refurbish or redevelop (STCA)
- Combination of 6x 1-bedroom and 1x 2-bedroom units with dedicated parking
- Exceptional street and racecourse frontage over 20 meters
- Previously generated nearly $114,000 p.a., with strong prospective rental growth
This offering represents a compelling chance to secure a sizable, flexible asset in a highly regarded location, primed for immediate value-add or future development potential. The clear instructions from the seller to proceed to auction provide certainty and opportunity for motivated buyers.
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.
Local Market Insights
In Brisbane Inner City, Quiet Listings observed 2 new block of unitss entering the market over the last 30 days, unchanged from 2 in the prior period, with an average advertised asking price of $3,250,000. The property type mix of listed properties is predominantly Houses at 32%, followed by apartments (28%), and commercial properties (15%). The most active agency for block of unitss in the Brisbane Inner City area is currently Ray White, representing 50% of new listings, followed by First National with 50%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Change History
| Headline | When |
|---|---|
| $3,199,000 | |
| AUCTION |
Location
Hendra QLD 4011
Market Insights for Hendra QLD 4011
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