128 & 130 Osborne Road Mitchelton QLD 4053
- 2,428 m²
- For Sale, Offers Over $3,600,000
Prime Mitchelton Development Site
The subject site is located within the up and coming Brisbane suburb of Mitchelton. Mitchelton is located approximately 8.5km north-west of the Brisbane Central Business District (CBD) and is well serviced by local amenities. Locally, the subject site sits adjacent to residential land uses (mix of detached dwelling houses and multiple dwelling apartment buildings). Directly across from the subject site is the Brookside Shopping Centre which is anchored by tenants such as Woolworths, Coles, Big W and Target; and comprises a number of specialty stores, banks, and a news agent. The subject site is short walk from both the Blackwood Street precinct and the Mitchelton Train Station.
Brisbane City Council under the Brisbane City Plan 2014 has zoned the subject site within the Low-medium Density zone (up to 3 storeys). However, the subject site has been identiﬁed within the Mitchelton Centre Neighbourhood Plan, more speciﬁcally within the Fringe Residential Precinct (NPP-002). The purpose of neighbourhood plans is to provide for ﬁner grain planning and therefore prevails over the zoning intent for any development site. The Fringe Residential Precinct allows development over the subject site to reach up to 4 storeys (14m) and do so within a code assessable application. There is criteria that has to be met to achieve such an outcome.
An approximate development envelope of the subject site is 1,584m2 (44m x 36m). The development envelope has been calculated with a 6m front setback, 10m rear set back, and 2m side setbacks. The ﬁnal development envelope would be subject to a detailed design including articulation to reduce building bulk.
The subject site is not contained by any local environmental overlays, exhibits a relatively ﬂat land holding, and is well located within a thriving centre. However, a pre-lodgement meeting with Brisbane City Council is recommended to discuss the development potential of the subject site.
Currently on the site are two dwellings to assist with holding costs. A three bed, one bath Queenslander is currently returning $380 per week and a six bed, three bath, three car home, renovated with quality finishes to high standards and should return around $650 per week.
The above information is provided solely for the purpose of gaining a preliminary understanding of the subject sites future development potential. A detailed Town Planing Appraisal is recommended.
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