15 Salmon Street Southport QLD 4215

| 5-bedroom house | development site assembly | RD5 zoning | 23m height limit | 400m to tram | This property’s primary competitive strength lies in its position as a component of a larger 3,047 m² development site with RD5 zoning and a 23-meter height limit, offering a buyer rare optionality. The existing 5-bedroom house on an elevated block with city views provides immediate rental income while the underlying land value is driven by its assembly potential, making it most suitable for a developer seeking site consolidation or an investor wanting a high-yield hold with a clear future uplift path. The key risk is the lack of individual development viability for this single lot, as its value is contingent on the full site’s assembly and a buyer’s ability to coordinate with other owners. This cost is the loss of a standalone development premium. The commercial opportunity is to acquire now at a house price, then hold for rental yield while the site matures toward a coordinated sale or joint venture. Use this property as a strategic land bank with cash flow.