2,192 sqm property returning $226,359 per annum*with a DA for 55 units over 7 levels and GFA of 4,665 sqm
Savills are selling Foga Lodge at 53-55 Coonan Street, Indooroopilly. The 2,192sq m* of land is improved with 9 existing townhouses on site, currently returning $226,359 per annum with an approved DA for 55 apartments over 7 levels. The site is strategically positioned, close to the Indooroopilly Train Station and Shopping Centre.
The 2,192sq m* site with 40.5 metres* of frontage is positioned in a sought-after near city suburb with strong long term fundamental growth prospects.
The surrounding area predominantly comprises a mix of medium to high density residential uses, including detached dwellings, apartments and townhouses.
Key features of this property include:
- Modern 9 existing townhouses, typically large air conditioned three-bedroom two-bathroom townhouses with onsite parking typically rented for between $440-$525 per week, returning $226,359 per annum.
- Council have approved a DA for 55 units over 7 levels with a Gross Floor Area (GFA) of 5,480sq m.
- Zoned “MU2 Mixed Use (Centre Frame)” under the Brisbane City Plan 2014
- 40.5m of frontage to Coonan Street
- Just minutes to Indooroopilly Train Station, and all the retail facilities of Indooroopilly Shopping Town
- Close to the University of Queensland St Lucia Campus
- 6 km west of the Brisbane CBD
- 2,192sq m* of land close to the Indooroopilly shopping centre.
- Key position with 40.5 metres* of east facing frontage to Coonan Street.
- Median house price within Indooroopilly is over $1.38 million with 9.2% growth over the last 12 months
- Allowable usages include Dual occupancy, Dwelling house, Home based business, Multiple dwellings including townhouses or medium-high density residential, residential care facility, retirement facility, rooming accommodation, and short-term accommodation.
FOR SALE OFFERS CLOSING WEDNESDAY 30TH NOVEMBER
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