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Overview
Situated in one of Parkwood's most prestigious acreage neighbourhoods, this property offers a significant opportunity for redevelopment and investment. The expansive parcel of land, approved for subdivision into two substantial blocks of about one acre each, caters to developers, builders, or buyers seeking premium sites in a highly sought-after location.
The existing home, due to considerable termite damage, requires major refurbishment or demolition, making this more than just a renovation project. This condition offers flexibility for new owners to either rejuvenate the residence or clear the land to fully capitalize on the subdivision approval.
Strategically, the property can be approached in multiple ways: completing the subdivision to sell two premium vacant blocks, building two distinguished homes (subject to approvals), retaining and developing one block while selling the other, or considering restoration of the current residence within the development plan.
Parkwood is desirable for its leafy, private environment and substantial acreage homes, while providing convenient access to essential services such as Griffith University, Gold Coast University Hospital, major shopping precincts, reputable schools, light rail links, and the M1 motorway, balancing lifestyle and connectivity.
This rare combination of size, location, and subdivision potential presents a unique prospect not often available in this established area. Buyers are advised to undertake detailed assessments regarding the property's condition, termite damage, development approvals, subdivision logistics, infrastructure expenses, and local government regulations.
Local Market Insights
In Parkwood, Quiet Listings observed 36 new houses entering the market over the last 30 days, up from 33 during the previous 30-day period, with an average advertised asking price of $1,378,778. The property type mix of listed properties is predominantly Houses at 75%, followed by townhouses (9%), and units (6%). The most active agency for houses in the Parkwood area is currently PRD Nationwide, representing 17% of new listings, followed by Harcourts 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.
Location
Market Insights for Parkwood QLD 4214
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