52 Rickman Parade, Woorim QLD 4507

Beachside redevelopment block | 647sqm near Woorim surf | tenanted holding income | rare coastal land supply The buying case here turns on scarcity. A 647sqm parcel fifty metres from Woorim Beach is rarely offered, and the marketing’s reference to potential four-storey height signals genuine medium-density upside if zoning and coastal overlays permit. The existing three-bedroom house is functionally secondary; its value is in providing immediate rental cover while you assess feasibility. This property best suits a developer or land-banker who can absorb holding costs and planning risk, or an investor willing to ride long-term coastal capital growth with a tenant in place. The primary risk is that the advertised height allowance may not survive council scrutiny once flood, storm surge, and setback constraints are applied—due diligence on overlays is non-negotiable. Renovating the current dwelling offers limited upside given the single bathroom and modest layout, so the commercial logic rests entirely on land value and redevelopment optionality. Hold it for income while you test the planning pathway, or bank the land and wait for the next zoning cycle to crystallise value.