163 Terrace Street, New Farm QLD 4005

Renovated cottage | 400m² flood overlay land | 70% building coverage | Auction 2 May This property presents as a substantially built, modernised cottage on a full-sized block in a tightly held inner-city suburb, a combination that is increasingly rare. Its four bedrooms, multiple living areas, and high-quality inclusions like floorboards and air conditioning position it for a family seeking a low-maintenance, character-infused home with immediate walkability to elite schools and urban amenities. The scale of improvements, including secure parking for four vehicles, supports both premium owner-occupation and strong rental appeal. The primary decision factor is the flood overlay, which imposes insurance costs and potential future capital risk, directly offsetting the land value premium of a 400m² parcel. The 70% site coverage limits expansion, cementing its value in the existing renovation. For a buyer, the commercial logic is to secure a turnkey holding in a high-demand suburb, accepting the overlay for location. This is a long-term hold for an owner-occupier or a rental investment with resilient tenant demand, not a short-term development play.