109 Prince Edward Parade, Scarborough, Qld 4020

Attention developers, investors, and builders! This exceptional property offers a unique chance to secure a high-potential asset in the thriving coastal suburb of Scarborough. Perfectly positioned just 80 metres from the stunning Queens Beach with never to be built out ocean views, this block features three well maintained 2-bedroom units with unit three offering the amazing ocean view, with all on a single title, providing immediate rental income and unmatched long-term growth prospects.

Property Overview:

Three, two-bedroom units: Each unit offers versatile rental opportunities, whether for Airbnb short-term stays or long-term tenancy agreements. All units recently had split systems installed in the living rooms, unit one provides a second sitting area in the sunroom, overlooking the ocean.
Single-title block: This expansive block offers the flexibility for future redevelopment into a new multi-unit complex or a luxury family home, making it ideal for those with an eye for future growth.
Premium location: Nestled in one of Scarborough's most sought-after streets, just steps away from the waterfront and a short stroll to Scarborough's bustling cafe scene, parks, and amenities.

Key Investment Features:

Immediate Rental Income: With all three units fully tenanted, the property currently generates a combined rental income of $1435.00 per week. Future rental reviews for Units 2 and 3 in January and June 2025 present additional opportunities for increased returns.

Land Bank for Future Development: Situated in a rapidly growing area, this property is ideal for land banking. The zoning for Next Generation Neighbourhood allows for the potential to build up to 12 metres high (subject to council approval), opening the door to multi-unit development or the construction of a high-end family residence.

Multiple Income Streams: The versatility of the three units means you can capitalise on the booming short-term rental market through platforms like Airbnb, or opt for secure, long-term tenancies to ensure a steady, consistent return on investment.

Development Potential: For developers and builders, this property offers endless possibilities. Whether you're looking to demolish the current structure and redevelop the site into a multi-unit complex (STCA) or create a luxurious family home by the beach, the large block size and favourable zoning make this an ideal project. The demand for modern, high-quality homes in Scarborough continues to grow, making it the perfect time to invest in this high-growth area.

Scarborough's Lifestyle Appeal: Scarborough is renowned for its picturesque beachfront, vibrant community, and fantastic lifestyle amenities. Its proximity to Brisbane CBD, coupled with its stunning beaches and thriving local economy, has seen it become one of the most desirable suburbs in the region. With continuous infrastructure development and growing demand for rental and owner-occupied properties, Scarborough represents a prime location for any property investor or developer.

With respect to the tenants, we will only be conducting private inspections, please contact Amy McCurley 0418 639 378 to schedule.

This Lot could be where your dream home is built, don't miss out! Further information is available upon request.