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15% ROI*
$415,000 Gross Income*
Dual Titled 992sqm
30 Self Contained Boutique Hotel Inspired Studios*
30 Ensuites*
16 Car Spaces*
25 Storage Cages*
Low Overheads & Maintenance
This tightly held property has hit the market for the first time in over 50 years, giving you an exceptional opportunity to secure a prime investment located in the inner-city blue-chip suburb of Newmarket, only 4.9km from the CBD this dual titled 992sqm allotment could be the best performer ever in your property portfolio.
The existing dwelling currently consists of 4 self contained studios renting at $900 per week total. The current tenants are a mixture of young professionals & students and the property has consistently seen a 100% occupancy rate over the years indicating that there is a significant demand in the area for affordable accommodation.
The owners have submitted a DA with Brisbane City Council to turn this magnificent Queenslander into 30 self-contained “boutique hotel like” studios and are awaiting approval. Once built it has the capacity to return $413,000 per annum based on a 90% occupancy rate, making it the perfect cash cow for any investor.
Much consideration was given to the design for the liveability of the residents in this development with a strong focus to minimize occupancy turnover. The intelligently designed floorplan gives each resident their own bathroom, kitchenette and a generous sized room for a double bed and desk.
Wide hallways and high ceilings paired with a monochromatic colour scheme as well as some luxury finishes give the feel of a boutique hotel. There are many break out zones for residents to relax outside of their studios should they wish along with 25 large storage units and 16 car spaces individually allocated to specific studios.
Each studio is individually metered keeping the overheads low and ROI high for the investor who purchases this development.
274 Enoggera Rd Newmarket location is excellent and sets this property to other comparable properties well and truly above the rest. Walking distance to so many amenities the residents who live here love it as it is so close to everything they need.
Bus stop - 170m
Newmarket Olympic Pool - 500m
Coles Newmarket - 650m
Cinema - 650m
Newmarket Train Station - 750m
Aldi 1.4km
Coles Alderley - 1.5km (Image 1)
QUT Kelvin Grove Campus 2.4km
Fortitude Valley 4.8km
Brisbane CBD 4.9km
South Bank 5.6km
Brisbane Airport 14km
The owners of the property are local third generation commercial builders and have given a competitive rate to complete the build & project manage the development, making this an ideal property for investors who have not built a project of this size before.
*DA is subject to BCC approval
*Feasibility has been calculated from concept drawings and information available at the time and are approximants only until full working drawings are drafted
*Rental yield has been based off two independent property managers market appraisals
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