Salisbury Development Opportunity | DA Approved

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Location

Market Insights for Salisbury QLD 4107

New Listings (last 30 days)

Average price

$1,133,333

Lowest price

$850,000

Highest price

$1,999,999

23-25 Norval Street, Salisbury QLD 4107

All Offers Must Be Submitted By 11th October

Search Band

$2M - $2.2M High Confidence Calculated based on strong search observations.

Land 1832 m²

Listed: 16 days ago

Overview

This property represents a significant development opportunity in Salisbury, comprised of back-to-back lots at 23 & 25 Norval Street with 80 Kessels Road to the rear. The site spans a substantial 1,832 square meters and comes with DA approval for a four-lot subdivision, offering flexible development possibilities for builders and investors.

Positioned in a prime location, the land is well-situated for those looking to capitalize on the proximity to key local amenities such as Griffith University and the QEII Hospital. These institutions generate demand from students, healthcare professionals, and local families, providing a robust potential tenant and buyer market for future developments.

The approved development presents opportunities beyond traditional housing, including the potential for a six-bedroom rooming house or secure onsite car parking, subject to relevant approvals. This flexibility enables a range of investment strategies from building and selling new residences, holding as long-term rentals, or exploring alternative accommodation models, thereby suiting diverse developer or investor goals.

The site's advantageous location also benefits from excellent transport access and proximity to various local shops, cafes, and other everyday conveniences. Its accessibility to Brisbane CBD and employment nodes further enhances its appeal for renters and buyers alike.

DA approval for four lots enabling subdivision
Back-to-back site layout providing development synergy
Close proximity to Griffith University and medical precinct
Multiple potential use and income strategies including rooming-house and parking
Well-established residential locale with strong transport connections

This land parcel offers a rare chance to leverage a versatile site in a sought-after location, ideal for developers and investors aiming to meet varied residential demands.

Local Market Insights

In Brisbane - South, Quiet Listings observed 6 new parcels of land entering the market over the last 30 days, unchanged from 6 in the prior period, with an average advertised asking price of $1,133,333. The property type mix of listed properties is predominantly Houses at 61%, followed by townhouses (18%), and apartments (8%). The most active agency for land in the Brisbane - South area is currently Remax, representing 33% of new listings, followed by Place with 17%. 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.