Purpose of Purchase: Owner Occupier
Property Type: House
- Land area over 750sqm and have the ability to do a large scale renovation
- 780sqm block of land
- Central location walking distance to The Gabba and local shops
- Excellent potential for large scale renovated
- East facing with semi-elevated outlook at the rear
- Very little value associated with current improvements
A Successful Investment:
The client was seeking the opportunity to create their dream home. They had a budget of $1.2m to spend on the initial land/demolition house and then a subsequent $800,000 to spend on the construction/renovation of the dwelling.
There were a limited number of suburbs they were willing to look in and the primary objective was privacy in the back yard and a large block of land for their 3 girls.
We identified this property as the perfect combination of both being 780sqm and having a slightly sloping downhill back yard with properties behind at a lower level than the back yard. This provided excellent privacy. The house is almost a bulldoze however due to demolition control precincts, the façade will be maintained and the new residence built behind.
We secured this property at auction below our recommended upper price limit and the clients are extremely excited about the project ahead as they design and build their new home.