22 Morcombe Street, Brighton QLD 4017

Renovation-ready bayside cottage | Quiet owner-occupied street | 405sqm with expansion scope | Minutes to waterfront The property’s primary buying case rests on its position in a quiet, high-owner-occupier street within a sought-after bayside pocket, where the 405sqm block provides rare expansion potential in a tightly held area. The partly completed renovations allow a buyer to secure a smaller footprint with immediate livability while retaining optionality for future extensions, a pool, or further capital improvements subject to council approval. This configuration best suits owner-occupiers seeking a long-term hold in a low-turnover location, where the sunroom and outdoor entertaining space add functional flexibility without overcapitalising on finishes. The principal risk is that the renovation is incomplete, requiring the buyer to manage remaining work and associated costs, which may narrow the pool of competing bidders. The recent October 2024 sale at $790,000 sets a recent floor, but current market conditions in Brighton—where the median is $1.0775m and auction clearance sits at 40%—suggest cautious bidding. The opportunity lies in acquiring below median on a block that supports value-add through extension or subdivision, with the waterfront proximity underpinning long-term demand. Hold this property as a core residential holding, renovate to a comfortable standard, and defer major structural changes until market conditions favour extraction of the land’s latent value.