D.A. Approved 43 Apartments 12 Klms CBD Brisbane DRASTIC PRICE REDUCTION - SOLD

Property Description   


11- 15 Mermaid Street Chermside QLD 4032. Vacant Possession.
All ready to build. 
Development Approval in place. No options. A straight transfer of title.
Approved by Brisbane City Council for 41 X 2 bedroom apartments and 2 x 1 bedroom apartments.
In the same street, the development at 18 Mermaid Street sold 1 bedroom apartments - from $371,000 and two bedroom apartments - from $467,000 in 2016.
Latest recorded sales In January 2018 in Chermside have seen sales in excess of $500,0000 for two bedroom apartments.
As a conservative guide the vendors have suggested for feasibility purposes - use average selling price today @ $435,000 for two bedroom apartments.
Property detail are :
Gross Floor Area approved : 3261 m2 (Plot ratio 2.53)
Site Cover : 831m2 (64.5% of 1287m2)
No of stories : 6
Private Open Space : 679.5 (required 386m2)
Communal open space : 243m2 (required 50m2)
Carparks : 60
Chermside has been identified by Brisbane City Council as a Principal Regional Activity Centre, the highest use zoned area in the Council area and one of only four in Brisbane greater area.
Mermaid Street is situated away from the Westfield major drive in shopping centre, yet close enough for residents to walk to. Close to the first ALDI supermarket, close to neighborhood parkland and easy stroll to the city bound bus stop. Quick access to the airport link tunnel entrance is 5 minutes drive.
This site is offered as vacant possession .
The Council Decision Notice and relevant drawings are available from

peter@marshallpropertycorp.com.  Phone Peter Longhurst 0408 559 480

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: Chermside Neighbourhood Plan and REIQ