16B Miles Street, Coolangatta QLD 4225

Battleaxe block, dual-lot opportunity | Medium density zoning, 15m height allowance | Adjacent parkland, Kirra beach | Flood overlay detected Dec 2025 | 15.4% suburb growth, 3.3% yield. The buying case rests on the property’s configuration and zoning. The 493m² battleaxe block, while set back, sits within a Medium Density Residential zone permitting up to 15 metres in height. Combined with the adjacent 16A Miles Street, the 898m² dual-lot offering creates a rare development pathway for boutique townhouses or a small residential project, subject to council approval. The existing house is neat and updated, with open-plan living and a second-storey deck, making it immediately rentable or occupiable. This suits a buyer who values optionality: hold and collect income while planning, or combine titles for a future yield uplift. The suburb’s 15.4% growth and 3.3% rental yield support a patient, value-add strategy. The primary risk is the flood overlay, detected as of December 2025, which will increase insurance costs and may constrain development feasibility or resale liquidity. This is not a deal-breaker but must be costed into any holding or construction budget. The battleaxe configuration limits street presence and may reduce appeal for some end-users. The opportunity lies in the dual-lot play: acquiring both titles gives control over a consolidated site in a growth corridor near Kirra beach and parkland. Hold the property as a rental during planning, then pursue a medium-density development when overlay risk is mitigated or council approval secured.