19 Bunowen Street, Ferny Grove, Qld 4055

This property presents an unrivalled opportunity for investors, a set of four townhouses on a generous parcel of land in a rapidly developing locale.

- Four, two bed/one bath/one car townhouses
- Projected gross return approx. $98,800pa
- Situated on 1,092sqm LMR block with huge 27.7m frontage
- Option to renovate townhouses, adding value and increasing rental return
- Well maintained, brick and tile complex built in 1992
- Currently setup without body corporate meaning no fees, however, potential to strata-title each townhouse
- 15km from CBD, 200m from Ferny Grove Train Station
- Ferny Grove Central - 12,000sqm retail centre development in progress next to train station transforming the area into the future, with a further residential component of 82 luxury apartments incorporated into the development

Ferny Grove is a leafy pocket in the convenient north-western corridor of Brisbane, just 15km from Brisbane CBD. Serviced by a major train line, buses and arterial roads, this is a suburb suited to those who are seeking a quiet escape without compromising convenience. The local shopping complex is within walking distance of these townhouses, and is well-equipped with a large supermarket, specialty shops, boutiques and cafes. The area also offers an excellent array of school and early education options, with Ferny Grove State School, Ferny Grove State High School, and many kindy and daycare options.

This is an exciting era for Ferny Grove, with the newly upgraded train station and carpark complex entering into its next phase of development. Ferny Grove Central will further enhance and revitalise the area, incorporating new retail, supermarket, health and fitness amenities and improved serviceability for both commuters and locals. This development also includes a new luxury residential apartment building, transforming and revitalising the suburb. These exciting developments are happening just footsteps
from 19 Bunowen Street, driving long-term desirability and demand.

This flat, 1,092sqm block with a 27.7m frontage, backs onto lovely parkland and is framed by mature trees, typical for the area. LMR Zoned, this is prime real estate to hold or land bank for future redevelopment. As they are, the four townhouses are highly serviceable and desirable for tenants. Minor cosmetic improvements would increase rental yield, with a more extensive retrofit seeing an excellent return on investment, given tenant demand for such properties in the region. Investors may also see the potential of purchasing this property with the view to convert to a body corporate, with the intention of renovating and selling each individually in the future. This is a sound investment presenting multiple short and long-term strategies to capitalise on the growth Ferny Grove will be experiencing into the future.

The grounds are well-maintained and the building solidly built. Each of the townhouses is fronted by an undercover porch, with access to the single lock-up garage. The open-plan ground floor encompasses an air conditioned living, dining and kitchen, and steps out to the shady back patio. The stairs to the first floor are at the front, allowing the northern light to stream in, creating sunny interiors. The first three units feature an exposed brick wall going up the stairs, a stylish and eye-catching feature. The ground
floor also includes a laundry and additional toilet, a convenient inclusion. Upstairs, the two bedrooms are well-appointed and include built in storage. Each of the master bedrooms is air conditioned and full of natural light. The bathroom includes a shower over bathtub, storage and separate toilet. The fourth townhouse is an alternative floor plan to the first three, with a north-eastern aspect and a wrap-around courtyard that can be accessed from both the kitchen and living. While dated, these townhouses are
well-built and well-maintained, and are comfortable homes.

Rates: $5,768pa
Water: $4,960pa ($3,125.76pa – fixed cost, tenants are charged for usage approx. $1,800pa)