FOR SALE
Under Contract

8 Cadell Street
Toowong QLD 4066

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Land area: 809m2
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DA Approved Site - Develop, Invest, or Build & 'Rent-to-Hold'

NOTE: DA expires on 7 August 2025 based on Ministerial Extensions ... more information is available upon request.
This is a rare and exceptional opportunity for developers, builders, investors, and those looking to build on a 'rent-to-hold' basis or simply to 'land bank' as a wealth creation strategy. The hard work has already been done to mitigate the planning risks. Current development approval is for ten (10) apartments across three (3) levels, ground plus two (2), in the heart of the established and sought-after precinct of Toowong.
This 809sqm block offers the opportunity to commence a quick and profitable development, and with the 2032 Olympics fast approaching, southeast Queensland's future growth is predicted to be significant. The outlook indicates a significant upside, with the shortage of quality homes and extensive population growth outstripping supply in the greater Brisbane area. Opportunities such as this are 'rare as hen teeth'.
The brick-and-tile home is currently tenanted, providing immediate income, and the opportunity provides but is certainly not limited to:
* 809sqm relatively flat block of land with a 3 bed, 1 bath, 2 car brick and tile home;
* Current development approval for 10 apartments over 3 levels with a striking facade;
* Approval is for 9 x 2-bedroom apartments, & also includes 1 x 3-bedroom on top floor;
* Fa�ade has a striking appearance, with a design allowing for courtyarded apartments;
* The home has a tenancy in place until January 2025, providing immediate income;
* Tenant is desirous of staying on or can leave with the appropriate notice being issued;
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Property Details for 8 Cadell St, Toowong

8 Cadell St, Toowong is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 809m2. The place is currently for sale with LJ Hooker Property Centre.

Building Type
House
Land Size
809m2

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About Toowong 4066

The size of Toowong is approximately 4.2 square kilometres. It has 18 parks covering nearly 10.4% of total area. The population of Toowong in 2011 was 11,255 people. By 2016 the population was 10,832 showing a population decline of 3.8% in the area during that time. The predominant age group in Toowong is 20-29 years. Households in Toowong are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Toowong work in a professional occupation. In 2011, 42.9% of the homes in Toowong were owner-occupied compared with 44.4% in 2016.

Toowong has 7,442 properties. Over the last 5 years, Houses in Toowong have seen a 68.34% increase in median value, while Units have seen a 74.22% increase. As at 30 November 2024:

  • The median value for Houses in Toowong is $1,560,695 while the median value for Units is $779,890.
  • Houses have a median rent of $650 while Units have a median rent of $620.
There are currently 41 properties listed for sale, and 71 properties listed for rent in Toowong on OnTheHouse. According to CoreLogic's data, 337 properties were sold in the past 12 months in Toowong.

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Scott Gemmell
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