126 Mein Street, Hendra QLD 4011
126 Mein Street, Hendra QLD 4011
Elevated racecourse outlook | 789m² two-lot holding | 20m frontage | leased income to 2026 | demolition approved
This is a rare landholding proposition dressed as a family house. The 789m² site with a wide 20m frontage and elevated racecourse views places it above most Hendra stock, where character homes typically sit on tighter parcels. The approved demolition and two-lot configuration signal that the value sits firmly in the land and its development potential, not the existing Queenslander. For a buyer seeking a premium trackside address with flexibility to renovate, rebuild, or hold for income while planning, this property serves that purpose exceptionally well. The current lease until mid-2026 also offers an immediate holding strategy, which suits investors or owner-occupiers who do not need instant possession.
The current house is a two-level Queenslander with a built-in lower level, kitchenette, and bathroom, but its condition and finishes are not fully confirmed. The pool and elevated position add lifestyle appeal, yet the property’s true worth likely hinges on the redevelopment angle rather than the dwelling itself. The approved demolition and two-lot status may attract developers, which could push interest beyond standard family buyers. However, the absence of a confirmed construction year and interior specification means the existing house should be treated as a land value play unless a full inspection proves otherwise. The $1,000 per week rental estimate suggests modest income relative to the site’s implied value, so weigh holding costs against the land’s future upside.
Detailed Independent Property Report prepared by PropCred Analyst team for 126 Mein Street, Hendra QLD 4011
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
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Market Insight
Hendra, in Brisbane’s inner-north, is an affluent, established suburb where the median house price sits around $2.0–2.1 million. Annual growth is inconsistent: one source shows 0.8%, others 8.8–8.85% over 102 sales. Houses take 42–56 days to sell, suggesting steady demand. Professionals and families dominate, with 56% of owners holding mortgages. The unit market is largely inactive, with one sale in a year. House rental yield is 3.3%, below the state average, though another source notes a premium over Brisbane. Market conditions are healthy but lacking growth drivers; prices are expected to remain flat or rise marginally. Key risks: affordability constraints, interest-rate sensitivity, and a subdued unit segment.
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PropCred Estimated Value
Comparable Sales: 54 Mein Street sold $2.26M on 420m²; 33 Mein Street sold on 610m² in 2022 | Property Price Band: $3.7M–$3.8M | Value Drivers: land size and frontage, racecourse outlook, approved demolition and two-lot potential
Bedrooms
3
Bathroom
2
Parking
2
Land
789m²
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