9 Princess Street

Paddington QLD 4064

Imagine a traditional 3 bedroom QLD workers cottage charm; add another level with another 3 bedrooms with an extra kitchen and then under cover decks on the back. Walking in from the street is abit like entering Dr Who's Tardis.

Move in now. There is no need to wait for builders and deal with soaring costs to raise and renovate. Put your own mark on it at your own leisure.

Neat and tidy with all good sized bedrooms and complementing the valuable land content is a charming Queenslander (circa 1912) that has been in the same family for more than 100 years.

An exciting inner-city lifestyle awaits with the perfect city skyline aspect and only two kilometres to Brisbane CBD. This dual living home is the epitome of the true Paddington charm.

Extensively renovated, raised and more than doubled in size with 2.7m ceilings downstairs; this property is ready to move into today. In the current market, there is no need to wait for the builders to come in. Take your time to put your own stamp on this remarkable property.

The downstairs area is configurable as the internal walls are non-load supporting

Owners are retiring and this property must be sold.

Upper level
Front verandah for relaxing and watching the world go by
3 good sized bedrooms with one ensuite
Traditional high ceilings and VJ lining in original part of house
Separate bathroom and toilet
Centre hallway with regular breezes during warmer months
Laundry
Separate living room
Kitchen and dining room with high ceilings opening to the outdoors
Spacious and private verandah, ideal for entertaining
Original baltic pine floorboards under carpet
Flexibility in the two decks to enjoy the sun and/or shade during the year

Lower level
2.7m ceilings
Non-loading supporting internal walls to allow for re-configuration
3 good sized bedrooms
Good sized open plan lounge, kitchen and dining room opening out onto rear deck
Separate bathroom and toilet
Laundry room
Spacious storage room / cellar at back
Deck looking out onto spacious backyard.

Summary of Property and Flexibility

Off-street parking. Valuable in Paddington
Possible Dual Living and/or AirBNB
Back yard is a blank canvas for pool, gardens and carports
The lower level's internal walls are not load supporting, allowing for re-configuration

Location Location Location.

Located on the prestigious Princess Street and poised to embrace all that urban dwelling has to offer, the residence is on the edge of cosmopolitan Latrobe Terrace, in the centre of Paddington's cafe and lifestyle precinct and a short stroll to fine dining, great coffee, boutique shopping, dog off-leash parks, Caxton Street, The Barracks and Suncorp Stadium.

3 kms from CBD, South Bank and the new Queens Wharf

5 minute bike ride to link up with the bike trails along the Brisbane River with a short ride to the city, South Bank, Botanical gardens, West End and Mt Cootha Botanical Gardens

Rates

Council Rates: $909.00 pq.
Urban Utilities: $385.00 pq.

Value Considerations

To raise and renovate 2 3 bedroom house at this time costs $800,0000 upwards for a basic rebuild . #3 Princess St is currently being raised and renovated with a budget for over $1.5m

Median Price Sales Last 12 months

3 bedroom $1.465m
4 bedroom $2.323m
5 bedroom $2.834m

Note: Paddington is a very difficult suburb to place a value on a property. From a unrenovated small 3 bedroom house on a small block of land to a mansion sitting on Enoggera Terrace overlooking Brisbane and commanding millions of dollars more.

These are the closest properties sold in the past 2 years. These properties area a snapshot of #9 before raising, creating an extra level and extensive renovation

$1.845m April 2022 55 Charlotte St. Small 3 "tidied up" bedroom with one bathroom on timber stumps. No development under house.

$1.820m June 2022 Banks Terrace. Small 3 "tidied up" bedroom with one bathroom. No lower level

$1.26m April 2021 12 Princess St. Small 4 bedroom unrenovated
cottage on concrete stumps. No lower level. Currently listed for between 1.45m and 1.65m Budget of $1.3m + council costs to renovate. Timeline of 12 to 14 months to undertake the reno.

#9 offers lots of value leaving you plenty of money to upgrade

Flooding

Flooding Overlays show a 0.2% flooding chance for property. In the 1974 floods, water came to the bottom of the garden. In the 1990s, a massive covered drain (beneath #17and #20 Princess St) has been built. Since then, at no time has any water risen anywhere near the property

Summary

This property has great character, flexibility and value for its new owners. From the street this house looks like a traditional 3 bedroom Queenslander; but like the Tardis it keeps giving more.