113-115 Railway Pde, Norman Park QLD 4170

This property presents a unique opportunity for developers, land bankers, investors, and homeowners alike, offering multiple options and immediate income potential. Situated in a premier blue-chip suburb just 5 kilometers east of Brisbane's CBD, this site is ideal for those seeking a prime location for development or investment.

The property is offered with Development Approval (DA) for five multi-story townhouses, allowing you to transform one property into five, maximizing the potential upside. Alternatively, the block can be split, enabling you to live in the current renovated home or rent it out while selling the other block or building a second home, subject to council approval.

Comprising 863 square meters of Residential B R3 (LMR2) zoned land, the property consists of two separate lots on one title: Lot 1 is 405 square meters and Lot 2 is 458 square meters, with an approximate frontage of 20 meters. This generous land size offers numerous possibilities to capitalize on future growth and development opportunities.

The home itself is immaculate and requires no additional expenditure. It features four bedrooms, spacious open-plan living and dining areas, a renovated kitchen and bathroom, polished timber floors, and a separate detached multipurpose room. The large covered rear deck overlooks a substantial backyard, providing ample space for vehicles, boats, or caravans. The property is presented in excellent condition, ready for immediate occupation or rental.

Currently leased at $890 per week to reliable tenants, the property generates income while you consider your next steps to maximize its value. Its prime location offers convenient access to the CBD, Oxford Street dining precinct, Morningside shopping precinct, Brisbane River Ferry, parks, train stations, and reputable schools including Norman Park and Coorparoo State schools.

Opportunities of this nature are rare in this sought-after area. Interested parties are encouraged to act promptly to avoid missing out on this exceptional investment or development prospect. All offers must be submitted prior to the specified end date and will be considered on a first-in, best-offer basis, with the vendor reserving the right to accept an offer before the closing date.

Please note that the property is being sold without a listed price, and therefore a price guide cannot be provided. The information presented has been gathered from sources deemed reliable; however, prospective buyers should conduct their own inquiries and seek professional advice to verify all details.