32 Archer Street, Upper Mount Gravatt QLD 4122

Under Contract, Auction cancelled.

Address: 32, 34, 36 Archer St, and 35, 37 Lindwall St.
Auction: 19/9/2015 4:30pm, L J Hooker office in room (25 pinelands Rd, Sunnybank Hills).

Offering a superb corner position with three street frontages in the heart of this booming suburb, this distinctive multi-residential development opportunity is a rare find with its cutting-edge design setting a new benchmark for high density living.

Built over 5 level blocks, each one 486sqm totalling 2430sqm and all with existing rental properties leased for a potential combined annual income of $110,000. The existing owner has taken all the steps necessary to ensure the maximum return can be made out of this development.

The DA (issued Feb 2015) permits 5 levels hosting 60 units in total. Made up of 50 two bedroom and 10 one bedrooms apartments and 84 car parking spaces. The basement excavation is only 1.5 levels saving you significant construction costs. A portion of the 2 bedroom units will be allocated with two car parks. This is a huge selling point for many buyers looking in this area.

Uninterrupted views from many apartments will increase capital returns and are ensured due to the low-medium zones designated to the aspects facing Wheeler St. Once developed this high density site will attract quality buyers, both owner occupiers and investors, due to its central and highly convenient location.

Only 9km to the city this site is serviced by city bus stops just 100m from the door, has fast access to motorways and main roads, is minutes walk to the south-east's largest Westfield Garden City shopping centre and local shopping & multiple eateries & entertainment options (The Village Upper Mount Gravatt).

Investors will note the short distance to major education centres such as Griffith University, Mt Gravatt TAFE campus, both private and public schools, childcare centres and sporting/recreational facilities. Sunnybank's Chinatown and Asian community is only 5 minutes drive away and is a hugely popular dest