26,28,30 Norman Drive
Chermside, QLD 4032

Overview

26,28,30 Norman Drive

This property comprises three large MU2-zoned blocks located at the quieter end of Chermside, which is a rapidly developing area in Brisbane's north. The properties are unique in their size and potential, making them a rare find in the current market.

The three blocks available for sale are:

• 26 Norman Drive, Chermside (607m2)
• 28 Norman Drive, Chermside (607m2)
• 30 Norman Drive, Chermside (607m2)

These properties are situated close to major amenities, including the Westfield Shopping Centre and the Prince Charles Hospital, in one of Chermside's most attractive and less developed streets. This location ensures that any future development will stand out and maintain its visual appeal, unlike the more congested areas of Chermside.

According to an appraisal report by Vitality Town Planning, the combined area of 1821m2 meets the requirements for development up to 12 storeys, with a maximum Gross Floor Area (GFA) of approximately 5463m2. This is significantly higher than what is typically allowed for similarly zoned sites under 1200m2. The report also notes that recent developments in the area have exceeded standard GFA allowances, indicating a strong potential for maximizing the yield of these properties.

With the current demand for rental properties and the anticipated growth due to the upcoming 2032 Brisbane Olympics, the timing for new apartment construction in this area is ideal. Chermside is strategically located along three of the busiest roads in the northside and has been identified as a Principal Regional Activity Centre, which enhances its development prospects.

In addition to its development potential, Chermside offers a vibrant lifestyle with access to employment opportunities, shopping, public transport, and recreational facilities. The suburb is well-served by schools and healthcare facilities, making it an attractive location for families and investors alike.

Notable features of these properties include:

• Three post-war homes with a combined frontage of over 45m on MU2-zoned sites with Active Frontage, totaling 1821m2.
• Proximity to major shopping, dining, and entertainment options.
• Access to public transport and educational institutions.
• Surrounding parks and recreational areas.

Such large undeveloped sites in Chermside are becoming increasingly rare, as many properties have already been redeveloped. This is a unique opportunity that should not be missed.

For further information about this exceptional investment opportunity, please reach out to the agent.

Location