1 Shore Street East Street, Cleveland QLD 4163

Phone enquiry code for this property : 6149

Cleveland CBD, the train station, clubs, pubs, cafes, parks, Raby Bay Marina, Toondah Harbour (North Stradbroke Island ferries) and beautiful Moreton Bay right on your doorstep.

Now offered for sale is 1341sqm of MDR3 zoned land on two titles with great views achievable over Ross Creek, Raby and Moreton Bays.

Use your imagination to create and develop any number of potential configurations for this property, subject to Council approval.

• Retain as is and restore and improve accommodation to maximise rental income.

• Retain and restore the existing 1920’s buildings and develop the rear for apartments.

• Retain part of the existing buildings and redevelop the balance.

• Subdivide off a block at the rear and sell or develop.

• Demolish or remove everything and redevelop to MDR3 zoning, 22 metres/6 storeys with consideration given to the heritage value of the site.

Capitalise on the amazingly convenient corner position and flat building site to create an exclusive enclave of high-class accommodation.

Currently on site with excellent holding income:

A 1920’s home with four bedrooms, two bathrooms, living, dining and two kitchens with shop style frontage.

On a separate title, a two storey building containing 2 x 2 bedroom registered apartments.

A large 1910 elevated corrugated iron shed with loading bays measuring approximately 8m x 12metres with facilities.

A three studio 1890’s original Railway Station (removed from Pinkenbah) with four lock-up garages below.

Three long term tenancies bring in an excellent holding income that could very easily be improved by renting the current owner/occupied areas and/or by improving and extending the trendy apartments.

The two main buildings are currently included in a Heritage Listing proposal.

Here’s what the Redland City Council Group Manager, City Planning and Assessment Group has to say;

“It is important to highlight that while the purpose of the TLPI (Temporary Local Planning Instrument) and the existing Heritage Overlay Code in the City Plan is to protect the heritage values of the city’s identified heritage places, it does not necessarily prevent the removal or demolition of a heritage place from occurring”.
And
“the inclusion of these sites within the MDR zone does not necessarily restrict the development potential indicated by the zone; it simply intends to ensure that future development is properly considered against the sites local heritage values’.

What is your vision for this remarkable property?

Phone enquiry code for this property : 6149