SOLD
Sold on 02 Jul 2024 for $15,730,000

40 Wolseley Street
Woolloongabba QLD 4102

Bedrooms: 1
Bathrooms: 1
Car spaces: 1
Floor area: 447m2
Land area: 1014m2
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Property Details for 40 Wolseley St, Woolloongabba

Building Type
Land
Floor Size
447m2
Land Size
1014m2
Local Government
Brisbane
Lot/Plan
10/SP241359

Last Listing description (May 2017)

- Versatile operation - 20 x 2 bedroom complex that can offer up to a 40 room letting pool;
- Currently configured as serviced apartments with 19 rooms (up to 38 room) available to let;
- Spacious two bedroom apartment 'Manager's Unit' with reception facilities;

- Underground car parking to each unit;
- Only 3 years old - substantial depreciation benefits for an incoming owner;
- Suitable to short-term, medium-term and residential stays;
- Highly profitable business with flexible future value add opportunities, such as:
Student Accommodation - highly desirable rental and sales catchment;
Strata Title potential - sell off a portion/all units individually - retain or sell management rights to complex;
Continue operations as a serviced apartment complex - strong historical cash flows and profits (under Full Management);
- Low maintenance, landscaped gardens with BBQ and Swimming Pool;
- Located within 200 metres of Queensland's Largest Medical Precinct;
- Located within easy reach of Universities and Sporting Stadiums and less than 3km from Brisbane CBD.
*approx

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Property History for 40 Wolseley St, Woolloongabba, QLD 4102

A timeline of how this property has performed in the market
Last Sold
$15,730,000
02 Jul 2024
  • 02 Jul 2024
    Sold for $15,730,000
  • 10 Nov 2015
    Listed for Sale Not Disclosed
  • 15 Jul 2015
    Listed for Sale $9.95m - 3yo HiRise Bldg $800k pa net - WOW!

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About Woolloongabba 4102

The size of Woolloongabba is approximately 2.5 square kilometres. It has 10 parks covering nearly 2.5% of total area. The population of Woolloongabba in 2011 was 4,788 people. By 2016 the population was 5,640 showing a population growth of 17.8% in the area during that time. The predominant age group in Woolloongabba is 20-29 years. Households in Woolloongabba are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Woolloongabba work in a professional occupation. In 2011, 37.9% of the homes in Woolloongabba were owner-occupied compared with 31.7% in 2016.

Woolloongabba has 5,501 properties. Over the last 5 years, Houses in Woolloongabba have seen a 41.09% increase in median value, while Units have seen a 73.07% increase. As at 30 November 2024:

  • The median value for Houses in Woolloongabba is $1,145,811 while the median value for Units is $696,807.
  • Houses have a median rent of $680 while Units have a median rent of $650.
There are currently 13 properties listed for sale, and 21 properties listed for rent in Woolloongabba on OnTheHouse. According to CoreLogic's data, 277 properties were sold in the past 12 months in Woolloongabba.

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