Brisbane mortgagee sale has DA for 90 rooms and a rooftop bar

The Bowen Hills property is in a priority development area and has approval for a 90-room visitor accommodation scheme.

A vacant building metres from one of Queensland’s biggest hospitals is up for mortgagee sale – armed with development approval for a 90-room accommodation block and a rooftop bar.

The property at 63 O’Connell Terrace in Bowen Hills is about as central as you can get to a multitude of activities in the Queensland capital – close to the Herston medical precinct, opposite the Brisbane showgrounds where the annual Ekka festival is held, up the road from Fortitude Valley’s entertainment zone and within walking distance of the CBD.

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The property is next door to a private hospital and 150m from Queensland’s biggest hospital.

Potential plus at the Bowen Hills site.

Ray White Commercial Queensland partner and head of sales Tom Barr is taking the property to auction at 4pm on December 14 “under instructions from the mortgagee exercising its power of sale”.

The development approval was for 90 room visitor accommodation and food premises with gross floor area of 3,460sq m over 12 levels – which includes a rooftop bar and recreational area.

“With an existing vacant commercial building, this property offers multiple opportunities (subject to council approval),” according to Mr Barr.

Apart from proceeding with the approved development, the options for buyers included occupying the existing commercial building or investing in value-add by refurbishing and leasing the building.

The site has development approval for a 90-room accommodation facility.

The DA includes a rooftop bar.

The corner block is on 357sq m of land within the Bowen Hills Priority Development area and under 2km from the Brisbane CBD.

It is right next door to Herston Private Hospital, and just 150 metres from Queensland’s largest hospital, the Royal Brisbane & Women’s Hospital.

Mr Barr said the block’s mixed use zoning provided for a wide range and intensity of uses including commercial, retail, health and medical, community, entertainment, cultural activities and residential.

The spot is in a very central location within reach of Bowen Hills Train Station which is one of four stations that service all lines in the Brisbane network.

Looking towards the city skyline, across the Brisbane showgrounds area.

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On the site at present is a 243sq m single level commercial building, with three external carparking spaces, with “unrivalled access to arterial roads and tunnels in all directions”. It is 300m from the new Exhibition Cross River Rail Station and 800m to Bowen Hills Train Station – one of only four stations servicing all lines in the Brisbane Rail network.

The property is open for inspection between 11am and noon every Wednesday until the auction date. It will go under the hammer in-room at Level 26, 111 Eagle Street, Brisbane, at 4pm on December 14.

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