606/289 Grey Street, South Brisbane QLD 4101

North-facing river-adjacent unit | premium state high school catchment | auction campaign live | dual bathrooms add edge | flood and heritage overlays flagged This apartment’s competitive strength lies in its location within the Brisbane State High School catchment combined with a genuine two-bedroom, two-bathroom configuration that is increasingly rare in the precinct. The auction format signals seller confidence, and the estimated weekly rent of nearly $1,000 suggests strong underlying demand from both owner-occupiers and investors. The property is best suited to a buyer seeking immediate rental return or a long-term family base within walking distance of the cultural precinct, South Bank parklands, and public transport. The presence of fibre-to-the-premises NBN and 5G coverage supports its appeal to professionals working remotely. The flood and heritage overlays are the most specific risk factors: the building’s position within a flood overlay is common for South Brisbane but demands confirmation of the unit’s floor level relative to historical flood events, while the heritage overlay may restrict future renovations or external alterations to the building. The limited sales history—last transacted in 2015 and a comparable unit in the same building selling for $777,500 in 2017—indicates substantial capital growth but also raises the question of whether current pricing fully reflects the broader market correction in Brisbane apartments. Buyers should commission a building inspection to assess common area maintenance given the property’s age and limited sales turnover in the complex.