649 Lutwyche RoadLutwyche QLD 4030
Property Details for 649 Lutwyche Rd, Lutwyche
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!
Property History for 649 Lutwyche Rd, Lutwyche, QLD 4030
- 03 May 2024Sold for $867,000
- 17 Feb 2024Listed for Sale Offers over $900,000
- 01 May 2019Listed 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 52.54% increase in median value, while Units have seen a 79.68% increase. As at 30 November 2024:
- The median value for Houses in Lutwyche is $1,392,155 while the median value for Units is $697,740.
- Houses have a median rent of $600 while Units have a median rent of $575.
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