$1.5 million property in soaring Brisbane suburb,
A $1.5 million “shell” property is seeking a makeover in a suburb where prices have nearly doubled recently.
The property located at 25 Osman Street in Bardon, Brisbane, boasts mountain views and heritage character on a spacious block.
This 647-square-metre block offers ample space for renovations and potential growth in a highly sought-after area.
However, the property lacks essential features such as doors, walls, balcony railings, and basic liveability, necessitating a full renovation.
According to the listing, this “empty shell” presents a unique opportunity for buyers in a rapidly growing suburb.
Overall, the investment potential is promising, given the current market trends and the property’s desirable attributes.
The property has been restumped and raised, making it ready for the next phase of development.
Offers of more than $1.5 million are currently being sought for this unique opportunity.
In Bardon, a western inner-city suburb of Brisbane, the median house price has surged by 7.5 percent over the past year.
Additionally, over the last five years, the median price has increased by an impressive 74.4 percent in the area.
The asking price for the Osman Street property aligns with Bardon’s median house price, currently sitting at $1.57 million.
According to Domain’s latest House Price Report, this figure reflects the strong demand in the local market.
Furthermore, the property comes with approved plans for a family-sized home designed by Big House Little House.
These plans provide a clear and executable vision for potential buyers, enhancing the property’s appeal and value.
Notably, the design includes a backyard pool, maximizing the use of the land parcel and outdoor living spaces.
The listing mentions that the home will feature five bedrooms plus a study, along with two bathrooms and an en suite.
Overall, this opportunity is being handled by McGrath Paddington, ensuring professional support for interested buyers.
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Despite its current lack of certain features, the architectural character typical of a Queensland home remains intact and evident.
Queenslander homes first emerged in the mid-1800s and are known for being high-set with deep verandahs underneath pitched roofs.
The iconic design includes corrugated iron roofs, which are a hallmark of the Queensland architectural style.
In this regard, Osman Street property ticks all the boxes, showcasing the distinctive attributes of a classic Queensland home.
Monsoonal rains, flooding, and summer temperatures have significantly influenced the design of Queenslander homes over the years.
These homes are raised on stumps with foundations made of timber, sandstone, or brick to combat rising water and heat.
Common internal features include wooden floors, soaring ceilings, and French doors, providing an abundance of natural light and airflow.
Additionally, the design prioritizes proportion and width, enhancing ventilation throughout the living spaces in hot climates.
However, as one moves closer to the equator, fewer examples of this architectural style can be observed.
The height of a Queenslander, elevated off the ground, does not suit cyclone conditions found in the state’s far north.
At Osman Street, the property enjoys a convenient location near local markets, schools, and a shopping village, enhancing its appeal.
