There are a few pretty viscous setbacks as part of the neighborhood plan which can cause some issues in some areas in upper mt gravatt. I am working on a few development sites with some developers and the going rate is as you have indicated above, in the circa $1000 per square meters in the MR (5 Story) sections near the mcdonalds on Logan road.
The key would be in those smaller block areas with 8 storey zoning would be to purchase a few next to each other, as an 600 meter block is pretty restricted with what you can do. Unfortunately this is something that you would now have to pay a premium for, as there are multiple developers who are looking to get into the area to do projects. If you own a property in the area and the one next door comes up, then it would be an excellent idea to try and pick up it, providing you aren't paying over the odds for it. I would assume that an agent should approach you in those areas if they are listing the one next door for sale, to see if you wanted to sell at the same time, as it would result in a premium sale price for you both (neighbor and yourself).
