A converted post war church is the most viewed property in Qld right now, with buyer focus shifting from prophet to profit given its devilishly enticing subdivision potential.
Latest PropTrack data shows the former Anglican Church of St Thomas had the highest number of views of all properties listed for sale on realestate.com.au in Queensland over past week.
Built in 1957, the converted church sits on a 918sq m block – strong enticement for buyers looking for demolishable post war homes with subdivision potential in one of the tightest land markets Queensland has ever seen.
MORE: Clive Palmer family homes for sale days after election
The $25 million Gold Coast mega-sale that almost didn’t happen
The Corporation of the Synod of the Diocese of Brisbane sold the church in 1992 for $90,000 and it changed hands three times before the current owner bought it with her parents for $620,000 in 2007.
Brisbane-based real estate agent Tristan Rowland of Stone Real Estate Aspley confirmed several developers had expressed interest and gone into due diligence over the site.
The 4 Watcombe Street, Wavell Heights, home has had three offers so far off two open homes that have been held. The property has been listed on realestate.com.au for two weeks looking for offers over $1.45m.
“I’ve never seen one like it,” Mr Rowland said. “It’s my first former church in 17 years, especially one with no heritage protections on it.”
“Ultimately it’s either a complete refurbish or a long-term project to subdivide. Everyone’s been very impressed with it. It’s interesting that a few of those inspecting have had dance or art lessons there too over the years.”
He said a mix of people had been looking into the property, many of whom were Baby Boomers looking to downsize.
He described the property as the answer to the prayers of those looking for a prime subdivision given its 918sq m block with 21m frontage.
“Whether you decide to renovate and live in this home or subdivide and prophet – wait – profit you will be in good stead with this truly unique home,” was how Mr Rowland listed it.
“It’s really interesting because a lot of Baby Boomers downsizing want big flat lowsets but can’t find them. There are not many in Wavell Heights. One buyer said it would be able to house their 12-seater dining table. They could host the Last Supper there if they wanted.”
“Seventy-five per cent of my enquiries is Baby Boomers who want to be close to grandkids and can’t find anything that fits the bill apart from this.”
Mr Rowland said a few developers were also conducting due diligence on the site.
“We just want clean offers. It’s a very good flat site, and there’s the opportunity to rent it out while doing development planning.”
MORE: Brisbane now strongest housing market in Australia
Private school property moguls buying up entire streets, buildings
The converted church has extra-high pitched ceilings throughout, with timber flooring, and several living spaces inside and out including two decks.
The property is 230m from the local cafe, 400m from the Downfall Creek Bikeway, 1.2km from Geebung State School, 1.9km from Westfield Chermside, 2.1km from Wavell Heights State High School and 11km from the Brisbane CBD.
FOLLOW SOPHIE FOSTER ON TWITTER
The post This church is the hottest property in Qld and its days are numbered appeared first on realestate.com.au.