9 Morshead Street, Tugun QLD 4224
9 Morshead Street, Tugun QLD 4224
Near-beach double block | subdividable into two lots | dual-living layout | older beach-shack condition | strong redevelopment upside
A near-beach double block of this scale is rarely offered in Tugun, and the approved subdivision potential is what separates it from the area’s typical single-lot beach houses. The double-storey layout, with its functional lower level, is well adapted to dual-living arrangements, extended family use, or a home-business arrangement. The property is best suited to buyers who prioritise land value and flexibility over a polished turn-key home; the strongest advantage would be seen by renovators, rebuilders, and land-bank purchasers. Genuine coastal weight is carried by the 450-metre walk to the sand, and broad buyer demand is supported by the established residential street.
Value is guided more by land and subdivision approval than by the existing house, which may be treated as a renovation or rebuild candidate. Dual-living potential might be valued differently across buyer groups, and coastal rebuild costs may need to be weighed in the budget. No flood or heritage constraints are evident for this pocket. Scarcity of near-beach double lots is expected to anchor pricing.
Detailed Independent Property Report prepared by PropCred Analyst team for 9 Morshead Street, Tugun QLD 4224
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Tugun is a tight-knit Gold Coast suburb, anchored by a mature professional demographic and an uncrowded beachside setting. Demand is driven by established buyers aged 50–59 seeking ocean access and local amenities, with sales activity thin at 67 houses over the year. The median house price is $1.51 million, up 10.5% annually, although other estimates place it between $1.2 million and $1.6 million; units sit around $1.0 million with 8.9% growth. Rents are rising sharply—houses at $1,150 weekly, up 21.1%, and units at $850—yet gross yields remain modest at 3.8% for houses and 4.1–4.2% for units. Growth continues to be supported by lifestyle demand, but affordability constraints are pronounced at current entry points.
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PropCred Estimated Value
Comparable Sales: A 3-bed beachside double-storey on 405m² sold for $1.18M; a dual-living 4-bed on an 800m² near-beach lot sold for $1.42M | Property Price Band: $1.4M-$1.5M | Value Drivers: land size, subdivision approval, near-beach location
Bedrooms
4
Bathroom
2
Parking
1
Land
496m²
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