13 - 15 Alison Crescent Russell Island QLD 4184
- Development / Land
- 1,518 m²
- For Sale, $235,000 (excl. GST)
Commercial Land - Development Potential Land Bank Perhaps
- 2 x 759m2 Blocks
- Close to the islands ferry terminal
- Within the commercial precinct
These two parcels of land site within prime commercial real estate precinct on Russell Island which is currently experiencing double digit growth in new housing approvals as people turn to the bay islands in these uncertain times. As a result, local businesses are booming and there is now pressure and demand for more facilities and services on the islands.
Each block is 759m2 making a combined parcel of 1518m2. The big ticket here is location, location, location. Just a short stroll to the jetty and one street back from the main road that runs through the center on the island and well within the business precinct. There is lots of potential here. The block also has access to town water.
Russell Island is a 17.8 square kilometer island located east of Brisbane. Just a short 20 minute ferry ride from the mainland Russell has a population around 3000 which has increased by 14.6% over the last 5 years. COVID has created a mini boom on the islands and Russell Island has experienced a 23% increase in development applications in the last 6 months. Between the 1st June and January 26th there were 307 development applications summitted to Redland City council, driven mostly by people wanting to escape to the safety of the islands or young first home buyers capitalising on stimulus grants.
66% of residents are owner occupiers and 34% rent. Traditionally the predominant demographic group was aged between 60 - 69 and predominantly made up childless couples. The current median house price is $210,000 with total dwellings of 2135. The only access to the island is via passenger or vehicle ferries.
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