Today’s property is located at 3 Killarney Crescent, Capalaba.
It has the potential for Multi-Dwelling development.
Capalaba is located 20km from Brisbane’s CBD in the City of Redland.
It has an off-peak travel time by car of 25 minutes to the CBD.
In the 2016 census, Capalaba had a population of 17,333 people, with many family-friendly attractions that draw people from throughout the Redlands region.
One of these gems is Capalaba Regional Park; a sprawling 14-ha open area where kids can run and play with walking and cycling circuits, picnic, barbecue facilities, and playground with a flying fox, timber fort, and an embankment slide.
Property Market Performance
Capalaba has an average monthly sale volume of 23 houses sold.
The time taken to sell a house (days-on-market) currently is 33.
This has increased from 17 days 12 months ago.
According to Core Logic, the median house price for Capalaba is currently $740,000.
The suburb Location Score for Capalaba is a favourable 68.
The highest recorded score of any suburb in Australia is 71.
Capalaba’s Location 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 2,664 similarly priced local markets across Australia.
But only 26 have a higher Location Score.
So this is a healthy market for investors.
Development Potential
This property has a Medium Density Residential zoning, conferring the potential for Multiple Dwelling development with its 24m frontage and 844 m2 area.
Planning constraints include:
Maximum prescribed height
13m above Natural Ground Level
Maximum Site Coverage
70% of the site area
Setbacks for Multiple Dwelling
Buildings are set back 3m from street frontages.
At the side boundary: a built to boundary wall does not exceed 4.5m in height and 9m in length along any one boundary; but otherwise, buildings are set back a minimum of:
- 1.5m for a wall up to 4.5m high
- 2m for a wall up to 7.5m high
- 2.5m plus 0.5m for every 3m or part thereof by which the building exceeds 7.5m
The rear boundary setback is a minimum of 4m for a wall up to 13m high and 6m where above 13m high.
Potential issues to discuss with a Town Planner and Civil Engineer include:
- the impact of the Transport Noise Corridor overlay
Selling Agent
The selling agent is Paul Joyce, LJ Hooker Property Centre, Cleveland (0497 514 175).
Read the property listing
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.
Three ways we can help you
1. Contact us for behind-the-scenes information about today’s property. That often includes useful market intel, field trip photos, meeting notes, consultants’ input, and market insights.
2. As Buyer’s Agents operating in growth suburbs across South East Queensland, we help value-add investors, developers, and builders buy profitable property opportunities. Our minimum engagement level fee is $15,000 plus GST.
3. If you’re on our Daily Deal Alerts list, we’ll email you another potential opportunity every weekday at 11 am AEST. Not on the list? Sign up below.