House for Sale
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Land Bank with Income & Future Development PotentialProperty ID 1659162This original 3 bedroom post-war home is situated on a 635m2, zoned medium density residential. The ideal Chermside location, presents an ideal opportunity for the right buyer to secure the site now, and possibly land bank for future development.
The current home is in need of renovating, and will potentially offer a solid holding income and deductions until the time is right to take advantage of the capital growth or development potential.
With new apartment complexes nearby, the area is undergoing a major rejuvenation, and a huge population growth, which are key indicators of future growth.
PHONE GRAHAM CARTER OF RAY WHITE CHERMSIDE
FOR FURTHER DETAILS ON 0411 222 666.
Located about 10km north of the Brisbane CBD, Chermside is a well-established Brisbane suburb and is known for several local landmarks including the Prince Charles and Holy Spirit Northside Private Hospitals, Westfield Chermside and the very popular Kedron-Wavell Services club. While the suburb still has many weatherboard homes constructed during the 1950s and 1960s, many higher density developments have been constructed in recent years.
Unit and townhouse sales now make up over 60 per cent of residential sales in the suburb each year. Chermside residents have witnessed a renewal phase in the suburb's lifecycle assisted by the development of retail shopping facilities along Gympie Road and the relocation of the Australian Taxation Office as well as the development of the Northern Busway.
Westfield Chermside, the largest suburban shopping centre in Queensland, is the major retail anchor for all the surrounding suburbs and is the location of a major Busway station. With the development of the Northern Busway, Chermside is set to become Brisbane's next satellite city.
Residents are well serviced by a variety of restaurants, retail businesses and leisure facilities such as the Chermside aquatic centre and a number of schools. Investor activity is high in the area with a high proportion of rental dwellings in the suburb and healthy rental yields. 2007 and 2009 in particular saw higher than usual sales numbers in the unit market with the release of a number of new developments. Source: REIQ