SOLD
Sold on 03 May 2024 for $867,000

649 Lutwyche Road
Lutwyche QLD 4030

Bedrooms: -
Bathrooms: -
Car spaces: 6
Floor area: 104m2
Land area: 410m2
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Property Details for 649 Lutwyche Rd, Lutwyche

Building Type
Commercial
Floor Size
104m2
Land Size
410m2
Local Government
Brisbane
Lot/Plan
3/RP19387

Last Listing description (June 2024)

Welcome to your opportunity to secure a lucrative investment in the heart of Lutwyche, boasting a commanding presence on a bustling main road with unparalleled exposure. This distinguished property presents an existing commercial character building ripe with potential, accompanied by a coveted development approval to significantly enhance its Gross Floor Area (GFA), functionality and income stream.

Key Features:

Expansion Approval in Place: A significant advantage of this property is the secured development approval to expand the GFA from approximately 125 sqm to 224 sqm. This approval allows for the addition of modern office spaces, enhancing the property's appeal and potential revenue streams. Architectural plans have been completed by the renowned firm, UME Architects.

Existing Commercial Character Building: The property stands as a testament to timeless architecture, exuding charm and character that sets it apart from the ordinary. With a solid foundation in place, it offers a unique canvas for visionary investors to transform and adapt to contemporary business needs.

Strategic Main Road Location: Situated on a prime main road, nearby the Airport Link, this property benefits from unparalleled visibility and high foot traffic, ensuring maximum exposure for businesses operating within. Its strategic location serves as a magnet for potential customers and clients, positioning your enterprise for success from day one.

Surrounding the property is a vibrant community with a diverse mix of businesses, amenities, and residential developments. This dynamic environment fosters a conducive atmosphere for commercial success, with ample opportunities for collaboration and growth.

Contact us today for more information and unlock the possibilities that await!

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Property History for 649 Lutwyche Rd, Lutwyche, QLD 4030

A timeline of how this property has performed in the market
Last Sold
$867,000
03 May 2024
  • 03 May 2024
    Sold for $867,000
  • 17 Feb 2024
    Listed for Sale Offers over $900,000
  • 01 May 2019
    Listed for Sale Price Upon Application
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About Lutwyche 4030

The size of Lutwyche is approximately 0.9 square kilometres. It has 9 parks covering nearly 11.8% of total area. The population of Lutwyche in 2011 was 2,801 people. By 2016 the population was 3,463 showing a population growth of 23.6% in the area during that time. The predominant age group in Lutwyche is 20-29 years. Households in Lutwyche are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Lutwyche work in a professional occupation. In 2011, 39.1% of the homes in Lutwyche were owner-occupied compared with 34.2% in 2016.

Lutwyche has 2,996 properties. Over the last 5 years, Houses in Lutwyche have seen a 65.38% increase in median value, while Units have seen a 76.36% increase. As at 30 September 2024:

  • The median value for Houses in Lutwyche is $1,447,419 while the median value for Units is $671,334.
  • Houses have a median rent of $600 while Units have a median rent of $550.
There are currently 17 properties listed for sale, and 19 properties listed for rent in Lutwyche on OnTheHouse. According to CoreLogic's data, 199 properties were sold in the past 12 months in Lutwyche.

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