223/88 Macquarie Street, Teneriffe QLD 4005

Heritage woolstore conversion | 161 sqm three-bedroom | Premium Teneriffe precinct | Rare floorplan This property occupies a distinct segment of the Teneriffe market: a genuinely large three-bedroom floorplan within a heritage woolstore conversion, where most comparable apartments are either smaller or less character-rich. The 161-square-metre internal area, combined with original timber beams, high ceilings, and an external balcony, positions it well for downsizers seeking space without a house, or for professionals wanting a distinctive inner-city base. The recent sale at $1.8 million suggests the market has already validated this configuration, and the automated estimates around $2.0–2.2 million indicate potential for further capital growth if the apartment presents well. The Dakota building’s onsite management, lift access, and resident pool add institutional quality that supports both owner-occupier and rental demand. The primary risk is the flood overlay, which may affect insurance premiums and should be confirmed against actual flood mapping for this specific floor level. Heritage overlay imposes renovation restrictions, so any planned upgrades require body corporate approval and may limit scope for value-add improvements. Body corporate fees in well-maintained character buildings can be significant, and buyers should request the latest sinking fund report. The discrepancy in some data sources listing 149 sqm and two bedrooms warrants verification of the exact floor plan. For the right buyer—one who values space, character, and location over modern finishes—this property offers a rare combination that is unlikely to be replicated in new developments.