808/289 Grey Street, South Brisbane QLD 4101

2-bed, 2-bath | Level 8 skyline aspect | Southpoint complex | Brisbane State High catchment | flood overlay flagged This unit’s competitive edge is its rare combination of a 92m² floorplate with direct skyline and cliff views from a mid-level position, which is scarce in the Southpoint development. The dual catchment for West End State School and Brisbane State High School underpins rental demand and resale depth, particularly for professional couples or downsizers who value walkability to South Bank. The building’s gym and secure parking remove common friction points for tenants, supporting the $1,035pw rental estimate. The flood overlay and heritage overlay are the primary risks; they do not prohibit purchase but compress future capital growth relative to unencumbered stock and may raise insurance costs. The 2020 purchase price of $838,000 shows strong prior appreciation, but the current estimated value of $1,558,000 means the buyer is paying for that run. The opportunity lies in holding through the next cycle, using the stable rental yield to offset holding costs, and exiting when the school catchment premium peaks again.