FOR SALE
$4,600,000

234-254 Plunkett Road
Tamborine QLD 4270

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 6.89ha
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Beautiful 68,900 m2 premium land for subdivision!

ATTENTION DEVELOPERS: THIS MAGNIFICENT TOP OF THE HILL PROPERTY, FLAT, OF 68,900M2 HAS BEEN ZONED BY THE STATE GOVERNMENT AS "PRIORITY DEVELOPMENT AREA"
In clear, the State Government, more precisely the ECONOMIC DEVELOPMENT QUEENSLAND (EDQ), has declared this area as PRIORITY DEVELOPMENT. No size limit applies, with condition that you prove that the block can accomodate the dwelling. Please do not hesitate to call the EDQ for more information, on (07) 3452 7914, and quote the property number "Lot 1 RP115155".
This land is just GORGEOUS, so flat on top of the hill, out of flood, far away from any powerlines, though so close to Yarrabilba.
For this exercise in subdividing this block in smaller lots, we will consider 425m2 blocks, a reasonable size for growing families.
Here it is:
68,900m2 less 20% for road access etc = 55,120m2
55,120m2 divided by blocks of 425m2 = 129 blocks of 425m2
A reasonable selling price for 425m2 block in this area would be minimum $250,000+GST, so total turnover of this project is 129 x $250,000 = $32,250,000 + GST
Maximum cost of subdivision per block, including of everything, should not exceed $110,000+GST, that brings total cost of construction to $14,190,000+GST for 129 blocks.
$32,250,000 less subdivision cost $14,190,000 less $4,350,000 (land) = $13,710,000.
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Property Details for 234-254 Plunkett Rd, Tamborine

Building Type
Land
Land Size
6.89ha

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About Tamborine 4270

The size of Tamborine is approximately 71.2 square kilometres. It has 18 parks covering nearly 28.9% of total area. The population of Tamborine in 2011 was 3,464 people. By 2016 the population was 3,952 showing a population growth of 14.1% in the area during that time. The predominant age group in Tamborine is 40-49 years. Households in Tamborine are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Tamborine work in a trades occupation. In 2011, 85.5% of the homes in Tamborine were owner-occupied compared with 85.2% in 2016.

Tamborine has 1,599 properties.

    There are currently 25 properties listed for sale, and 2 properties listed for rent in Tamborine on OnTheHouse. According to CoreLogic's data, 61 properties were sold in the past 12 months in Tamborine.

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