28 Ashbolt Street, Wooloowin QLD 4030

Corner block in Wooloowin | demolition approval in hand | 5 renovated units | flood overlay noted This property presents a rare configuration advantage: a 759m² double allotment with existing approval to demolish, which effectively removes the usual delay and uncertainty from a development pathway. The five renovated units are currently generating near $100,000 annually, meaning a buyer can hold and collect income while planning a future project, rather than carrying dead land costs. The corner positioning and absence of heritage or bushfire overlays further reduce complications. This suits a buyer with medium-term capital who wants optionality — either redevelop immediately or phase the transition from income to value uplift. The flood overlay is the primary risk, as it may affect financing terms, insurance premiums, and future development approvals for certain building types. Buyers should verify the overlay’s specific impact on permissible site cover and floor levels before committing. The lack of NBN is a minor inconvenience, not a value breaker. The opportunity lies in the gap between current rental yield and the site’s redevelopment potential; holding the units for two to three years while design and approvals are refined could maximise the eventual sale or build outcome. Use this property as a staged development play with income buffer.