In the latest demonstration of the suburb’s new-found appeal, a block of 16 older-style apartments with future development potential has changed hands for $1.9 million.
The L-shaped complex set on a 1494sq m site at 27 Hamson Tce was offered for sale in one line.
Savills’ Robert Dunne, who negotiated the sale, said the property attracted the interest of 88 separate parties and generated seven offers.
Mr Dunne said the property was zoned Low Medium Density Residential (up to two-to-three storeys mixed-use) with development potential for a 1800sq m building comprising up to 21 two-bedroom apartments.
“The strong interest and successful sale highlights the continued rejuvenation of Nundah,” he said.
According to Savills’ latest Nundah Market Overview report, the suburb is growing in popularity and is the focus of ongoing development activity due to its amenity, accessibility and shifting demographics.
The report indicated the Nundah area had a higher proportion of apartments and younger residents than the wider Brisbane average.
It also has a large rental market, with over 50 per cent of dwellings in the suburb rented, while 63.1 per cent of all dwellings are high-density, compared to 25.5 per cent in the Brisbane Local Government Area.
Nundah also has a higher percentage of residents aged 20-34 years (28.9 per cent) when compared with the greater Brisbane area.
Mr Dunne said the Airport Link road network had significantly boosted the connectivity and accessibility of Nundah, while the renewal of the central Nundah Village precinct and its proximity to a range shops, schools and parks had enhanced the suburb’s overall amenity.
Original article published at www.couriermail.com.au by Phil Bartsch 12/8/16