The $1.5 million shell in a Brisbane suburb where prices have soared

A $1.5 million “shell” is begging for a makeover in a suburb where prices have close to doubled in the short term.

The property at 25 Osman Street in Brisbane’s Bardon has mountain views and heritage character on a deep 647-square-metre block.

Its attributes balanced out the lack of doors, walls, balcony railings and basic liveability, requiring a “full renovation”, according to the listing for the “empty shell”, in a roaring suburb for capital growth.

25 Osman Street, Bardon, Queensland

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It has been restumped and raised, ready for the next phase. Offers more than $1.5 million are sought.

The median house price in Bardon, an western inner-city suburb of Brisbane (about 5km from the CBD), has soared by 7.5 per cent over 12 months and 74.4 per cent over five years.

The price hopes for the Osman Street address are in line with the median house price in Bardon, which sits at $1.57 million, according to Domain’s latest House Price Report.

The property comes with approved plans for a family-sized home by residential design firm Big House Little House, the listing advises, to provide a clear and executable vision for the buyer. This includes a backyard pool, to make the most of the land parcel, and alfresco spaces.

“Provides five bedrooms plus study, two bathrooms and en suite,” says the listing, which is being handled by McGrath Paddington.

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Despite what the property is doesn’t yet have, the architectural character – typical of a Queensland – is intact and evident.

Queenslander homes emerged in the mid-1800s and are high set with deep verandahs beneath a pitched, corrugated iron roof. Osman Street ticks the boxes.

Monsoonal rains, flooding and summer temperatures have influenced the design – Queenslander homes are raised, on stumps, with foundations of timber, sandstone or brick, to combat rising water and heat.

Common internal features include wooden floors, soaring ceilings, French doors and an abundance of windows, proportion and width for air flow.

The closer to the equator, fewer of this architectural style can be seen. The height of a Queenslander, off the ground, does not suit cyclone conditions in the state’s far north.

At Osman Street, the property is close to the local market, schools and shopping village.

Article source: Queensland Property Investor

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https://www.northlakespropertymanagement.com.au/construction-commences-at-mosaics-marella-broadbeach-apartments/