Block of flats centrally located in Ipswich CBD with primary commercial zoning. This investment is a very good opportunity for you to own commercially zoned property that has a high performance level of return and added bonus of further and future capital growth by either re-development of the block or change from its current multi-unit residential usage to commercial premises. Initial discussions with Council’s Planning and Development division and the underlying zoning indicates these premises can be refurbished/transformed into full commercial offices or the current premises can be removed from the site to allow development for a denser square metre commercial usage with Council approvals.

The building consists of 3 flats. Flat 1 is a 3 bedroom and was fully refurbished in 2012 and rents for $235 per week. Flat 2 is a 2 bedroom and rents for $215 per week and increases to $220 in May this year. Flat 3 is a 2 bedroom and rents for $220 per week and increases to $225 in October this year. Both Flats 2 & 3 were refurbished in 2005. The location is walking distance to the centre of town, post office and train station. 5 minute walk down the road to get your groceries from the new Coles Superstore. Each unit has its own car accommodation and plenty of space for visitor parking. The neat and tidy fit outs and the proximity to the CBD mean that these units do not remain vacant for extended periods of time. This is a good investment property and has excellent capital growth possibility.

Property Code: 789