DA Approved Mixed-Use Freehold | Occupy, Invest or Develop

Opportunities offering genuine flexibility are becoming increasingly difficult to secure. Positioned on one of Spring Hill’s prominent thoroughfares, 259 Water Street combines a beautifully restored character building with approved commercial expansion, delivering an exceptional opportunity for owner-occupiers, professional practices, investors and developers alike.

Occupying a 235m² Mixed Use (MU1) zoned site, the property has been meticulously renovated into a high-quality two-bedroom, two-bathroom residence while retaining its traditional character and commanding street presence. Importantly, Development Approval is already in place for a commercial extension, removing the uncertainty, time and cost of the approval process and allowing a purchaser to unlock the site’s commercial potential immediately.

Whether your strategy is to establish professional offices, consulting rooms, boutique retail, continue as a premium residence, or hold for future capital growth, this property provides a level of versatility rarely available within Brisbane’s tightly held inner-city market.

Adding further weight to the investment is its position less than 500 metres from the future Victoria Park Olympic Precinct, including the National Aquatics Centre and billions of dollars of surrounding infrastructure investment as well as high rise apartment complexes being built and planned that is expected to transform this part of Brisbane in the lead-up to the 2032 Olympic Games.

Property Highlights

• 235m² Mixed Use (MU1) zoned freehold site
• Development Approval already in place for commercial expansion
• Beautifully renovated c.1920 character building
• Premium two-bedroom, two-bathroom fit-out
• Prominent exposure along busy Water Street
• Traditional shopfront façade with traditional street appeal
• Two valuable off-street car parks
• Large private courtyard ideal for staff amenities or entertaining
• High ceilings, VJ walls, designer finishes and ducted air-conditioning
• Outstanding natural light throughout
• Minutes from Brisbane CBD, RBWH, Victoria Park and major transport

Three Strategies. One Exceptional Asset.

Occupy – Establish your own professional premises in one of Brisbane’s fastest evolving inner-city locations while enjoying premium residential-quality accommodation.

Invest – Lease as a high-quality residence today while retaining the future upside of the approved commercial development.

Develop – Activate the existing DA and create a distinctive commercial premises without the delays and risk associated with obtaining planning approval.

Properties offering this combination of character, mixed-use zoning, approved development potential and immediate usability are exceptionally rare. With significant infrastructure investment reshaping the surrounding precinct and quality freehold opportunities in increasingly short supply, 259 Water Street represents a compelling acquisition for buyers seeking flexibility, security and long-term capital growth.

Inspect by private appointment