New property thoughts? nundah

[quoc]

Hi Somersoft

Am in the process of buying a new property in nundah brisbane.
It is a property on a smallish block but in an area with good yield and is at below market value.

An issue though are finding out throught the BCC that there is an easement on the property that is stormwater drainage and easement that goes from the centre to one corner so a fair bit.
I am looking for a buy and hold with possible redevelopment for a 3 unit site on top as it is in an LMR zone.

My question is will this restrict what I can build later on down the track? will it cost potentially much more?
The property is quite cheap and maybe I'm finding it hard to move away from. Thoughts?

 

[R377]

Every man and his dog are buying development blocks in Nundah, Banyo and Nudgee which I believe will lead to a big oversupply of units and townhouses in future.

 

[Azazel]

Nundah is a pretty good spot, depending on where it is located there's plenty of options for trains. Also Clayfield next door is bit fancy. Much better than Banyo or Nudgee.
I have no idea about the development issues though.