23 Lockheed Street, Garbutt QLD 4814

Welcome to an exceptional property offering in a highly sought-after location! This is your chance to secure a dual-site development opportunity with a proposed Development Plan Application (DPA) for two distinctive properties, ideal for savvy investors or developers looking to capitalize on prime real estate. You could potentially split the property, or build a second dwelling on at the rear of this corner block, whilst collecting rent from the existing property. With the current lease expiring in July, you could also move in and just enjoy the large space for yourself and your family.

Property Overview:
Currently one lot, however potentially -

Lot 1: 551 sqm
Lot 2: 452 sqm
Both potential lots are well-positioned with ample space for residential development, each offering great potential.

An existing house is on the 551 sqm block and is returning $420 per week with a lease in place until 22nd July 2025. The last rental increase was on 20th July 2024.
Rent has been appraised as $460-$490 per week.

Rates are

Key Features:

Development Application: The property comes with an application for the Development Plan, saving you time and effort and answering a lot of questions you might have. This is from some time ago so may need to be updated.

Dual-Site Potential: With space for two individual blocks, the potential for multiple dwellings opens up a variety of possibilities, from family homes to investment properties.

Prime Location: Conveniently located close to amenities, schools, transport, and recreational spaces, ensuring high livability and demand.

Strong Capital Growth: Situated in a thriving area with a strong history of capital growth, this property represents a solid long-term investment opportunity.
Endless Possibilities: Whether you're looking to build two single homes or explore the potential for multi-residential development, this is an opportunity that allows for flexibility and a range of lucrative outcomes.

Why Invest Here?

Increased demand for housing in this rapidly developing area means your investment is positioned for strong returns.

Simplified development process thanks to the Development Plan Application being in place.

The perfect opportunity to create two modern homes, multi-dwelling units, or your ideal development project in a highly desirable area, on this corner block allowing for ease of access to future developments.

Seize this unique opportunity to develop two premium properties that will stand the test of time. Call today to arrange a viewing and see the potential for yourself.

Proudly presented to the market by Simone Corrigan. Contact me for an inspection - 0409461319.