28/289 Queen Street, Brisbane City QLD 4000
28/289 Queen Street, Brisbane City QLD 4000
Dual-key Art Deco heritage apartment | Fully furnished executive rental | Dual income streams | Prime CBD location
This property presents a rare dual-key configuration within a limited-supply 1930s Art Deco building, a distinct operational advantage in a CBD dominated by standard modern units. Its comprehensive refurbishment and full furnishing position it for immediate high-yield corporate tenancy, effectively serving SMSF investors or professionals seeking a combined personal use and dual rental income stream. The heritage overlay ensures architectural permanence but limits structural alteration, while the central location guarantees constant demand from executive tenants valuing walkable connectivity.
Acquisition logic hinges on capitalizing on its dual rental streams to offset CBD premium pricing, targeting a specific tenant demographic less sensitive to economic cycles. The primary risk is the constrained land size and strata title complicating future capital growth against larger apartments, with ongoing costs tied to heritage maintenance. Proceed with a hold strategy optimized for rental yield, leveraging its furnished turnkey status to secure long-term corporate leases; it is not a speculative land play but a cash-flow focused holding within a unique, finite building stock.
Detailed Independent Property Report prepared by PropCred Analyst team for 28/289 Queen Street, Brisbane City QLD 4000
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Brisbane City is a high-density urban core where demand is driven by investors, first-home buyers, and interstate migrants, all pivoting to the unit market due to affordability pressures. Recent price performance has been exceptionally strong, with units significantly outperforming, supported by a critically tight rental market and severe supply constraints. Future growth is anchored by major infrastructure like the Cross River Rail, though the market remains sensitive to affordability limits and higher borrowing costs.
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PropCred Estimated Value
Bedrooms
Bathroom
Parking
-
Land
415m²
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