Today’s property is located at 45 Allenby Road, Alexandra Hills in the Redlands.
It has the potential for a one into two lot subdivision.
Alexandra Hills is 25km from Brisbane’s CBD in the City of Redland.
It has an off-peak travel time by car of 35 minutes to the CBD.
In the 2016 census, Alexandra Hills had a population of 16,254 people.
It sits between two major areas of Redlands, with Cleveland to the east, and Capalaba to the west.
Property Market Performance
Alexandra Hills has a solid average sales volume of 22 houses sold monthly.
The time taken to sell a house (days-on-market) currently is 29.
This has increased from 17 days 12 months ago.
According to Core Logic, the median house price for Alexandra Hills was $666,000 in April 2023.
The suburb Location Score for Alexandra Hills is a favourable 67.
The highest recorded score of any suburb in Australia is 71.
So this score sits in the top quartile.
The current local market posture can be described as follows:
- Sellers are in no panic and buyers are making decent offers.
- Demand is ahead of supply, but not alarmingly.
- Buyers are rarely able to get away with low-ball offers.
- Sellers are usually getting the prices they ask for.
- Expect growth to exceed the national average.
There are 2,250 similarly priced local markets across Australia.
But only 36 have a higher Location Score.
So this is a healthy market for investors.
Development Potential
This property has the potential for a one into two lot subdivision with its 24m frontage and 842m2 area.
Each newly created lot in this location must have a minimum site area of 400m2 and a minimum frontage of 10m.
The property is located on a main road, so there are some traffic issues to be considered from planning, amenity, access, and value viewpoints.
Potential issues to discuss with a Town Planner and Civil Engineer include:
- The impact of the Transport Noise Corridor overlay
- Risk of Council conditioning a shared crossover to both lots
- Securing a legal point of stormwater discharge, given the site slopes away from the street and has a 2m+ cross-fall from front to back
- Irregularly shaped rear alignment
Selling Agent
The selling agent is Courtney Brown from LJ Hooker (0410 232 200).
Read the property listing and then download the Core Logic Property Report.
Trusted Resources
Whenever you buy a value-add investment property or development opportunity, you’ll greatly increase your prospects for success and mitigate project risks when you have a trusted team standing shoulder-to-shoulder with you.
We recommend this battle-proven team.
You can rely on them and trust their advice.
But as always, do your own meticulous due diligence.
That’s on you.
So don’t attempt to outsource that.
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