56 Mcilwraith Street, South Townsville QLD 4810
56 Mcilwraith Street, South Townsville QLD 4810
McIlwraith Street unit | CBD-fringe redevelopment strip | likely apartment in mixed complex | investor-demand area | flood overlay possible
This unit sits in a street that mixes older low-rise blocks, contemporary apartment towers, and redevelopment sites within a short distance of the city centre. That combination gives the property a dual advantage: it is close to established amenity and dining while being part of an area undergoing genuine urban intensification. The likely configuration as a unit or apartment in a multi-dwelling complex places it firmly in the segment of the market that attracts both investors looking for rental yield and owner-occupiers wanting a low-maintenance urban base. The presence of larger development parcels on the same street may also support medium-term value growth, as renewed interest in the precinct tends to lift buyer attention and pricing across the immediate locality. For a buyer who values central convenience, walkability, and the potential for capital uplift from neighborhood change, this property offers a sensible entry point.
The value of this unit may be most affected by its physical position within the building, particularly floor level and outlook. A higher floor with marina, river, or Castle Hill views might command a clear premium, while a ground-floor or street-facing unit could face more noise and reduced privacy. Building age and internal condition likely matter too; older blocks on the street tend to trade lower than newer apartment product. If the site carries flood or heritage restrictions, that may limit future renovation flexibility and should be weighed carefully when forming a price view.
Detailed Independent Property Report prepared by PropCred Analyst team for 56 Mcilwraith Street, South Townsville QLD 4810
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
South Townsville is a tightly held suburb in the broader Townsville market, positioned for regional lifestyle buyers and defence/mining workers. Demand is led by middle-to-high income households, with Townsville-wide vacancy at 0.91% and 36.6% of dwellings leased. House prices have grown 16–19% annually to roughly $620k–$678k; units are up 14–24% to around $465k. Houses sell in about 24 days, with only 43–56 sales a year, confirming constrained supply. Rental yields are strong at 4.7–5.0% for houses and 5.4–5.6% for units. Future drivers include Townsville’s 6,000 dwelling sales in twelve months, defence/mining tailwinds, and a 45% drop in building approvals, keeping supply tight. Risks centre on interest-rate sensitivity and investor momentum that could unwind.
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PropCred Estimated Value
Comparable Sales: 505/68 McIlwraith Street sold at $425,000; 201/68 McIlwraith Street sold at $410,000 | Property Price Band: $400,000–$500,000 | Value Drivers: location, condition, building age
Bedrooms
3
Bathroom
2
Parking
-
Land
519m²
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