24 Milman StreetThursday Island QLD 4875
Property Details for Lot 1/24 Milman St, Thursday Island
Last Listing description (September 2019)
This is a rare chance to secure one of the most significant and unique development opportunities on Thursday Island.
Thursday Island is the main island and administrative and commercial centre of the Torres Strait region, which includes over 20 islands and a population of over 25,000. Fishing, prawning, pearling and tourism are the main industries operating throughout the islands.
The subject property is situated upon a hill on the western side of Thursday Island. The sites, which is 1.7544Ha* of slightly elevated vacant land over two lots, is within the High Density Zoning area intended for high density residential use. It boasts elevated ocean views and is within easy walking distance of the central business district, shopping complex, school and sporting complex. The property is an opportunity for major development and has the potential for resort style accommodation.
- Lot 1 - 3,844m2*
- Lot 2 - 13,700m2*
- Elevated sites - selected water views
- High density zoning (precinct 2)
- Multi unit potential (STCA)
- For sale individually or as a package
- High accommodation demand location
Reflective of the unique location and limited availability of land, this property potentially represents the development of 300 beds either for residential use, resort style accommodation, or both.
Listed price:
Lot 1 - $675,000
Lot 2 - $1,375,000
Inspections of the property can be arranged through the marketing agent however inspections are strictly by appointment.
*approximately
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Property History for Lot 1/24 Milman St, Thursday Island, QLD 4875
- 15 Jun 2017Listed for Sale From $675,000
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About Thursday Island 4875
The size of Thursday Island is approximately 3.6 square kilometres. The population of Thursday Island in 2011 was 2,610 people. By 2016 the population was 2,946 showing a population growth of 12.9% in the area during that time. The predominant age group in Thursday Island is 0-9 years. Households in Thursday Island are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Thursday Island work in a professional occupation. In 2011, 10.2% of the homes in Thursday Island were owner-occupied compared with 9.6% in 2016.
Thursday Island has 645 properties. Over the last 5 years, Houses in Thursday Island have seen a -34.97% decrease in median value, while Units have seen a 27.64% increase. As at 31 October 2024:
- The median value for Houses in Thursday Island is $297,724 while the median value for Units is $407,754.
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