5 READING STREETSPRING HILL | BRISBANE

Information Memorandum

Outline Indicative Only

Contents

Executive Executive Summary 1

Market Overview 2

Brisbane 3

Spring Hill Overview 4

Spring Hill Demographics 5

Demand Analysis 6

Property Description 7

Building Description 8

Market Research Sales Evidence10

Conclusion 12

Exclusive Agent

Gregory Woods Commercial Sales Savills

+61 (0) 3002 8825 +61 (0) 409 305 224 gwoods@savills.com.au

Robert Dunne Commercial Sales Savills

+61 (0) 3002 8806 +61 (0) 418 888 840 rdunne@savills.com.au

1 © Copyright Savills

ExecutiveExecutive Summary

Introduction

Savills are delighted to present 5 Reading Street, Spring Hill to the market.

The property is being offered with vacant possession by Public Auction to be held onsite.

Opportunity 5 Reading Street offers the astute buyer the

opportunity to secure two prime inner cityresidences conveniently situated on one title

Live in one and lease one out

Lease both and enjoy the strong rental andcapital growth prospects afforded by an innercity locale.

The existing improvements consist of twofreestanding original cottage houses

Each residence boasts two bedrooms, onebathroom with living and kitchen area.

Each property enjoys one off street car park

Location Centrally located in Spring Hill the property is approximately 200 metres to Brisbane Grammar School, 450 metres to Centenary Pool Complex, 800 metres to the Brisbane CBD and a short 1.1kms to the Caxton Street entertainment precinct.

Land Area Total land area of 411 square metres*.

Zoning The property is classified QPP-LMR3 Low Medium Density Residential (up to 3 storeys) Zone under the Brisbane City Plan 2014.

The property also lies within the Petrie Terrace and Spring Hill Neighbourhood Plan.

Real Property Description Lot 3 on Registered Plan 205808.

For Sale by Public Auction to be held onsite 11am Thursday 30th November

The property can be viewed by searching “5 Reading St, Spring Hill on

A copy of the Due Diligence package & Draft Contract of sale are available at: savills.com.au/commercialsalesqld

or by contacting:

Gregory Woods +61 (0) 3002 8825+61 (0) 409 305 224gwoods@savills.com.au

Robert Dunne 61 (0) 3002 8806 +61 (0) 418 888 840rdunne@savills.com.au

2 © Copyright Savills

Market Overview

Australia Australia is arguably, one of the world’s leading economies underpinned by strong economic credentials and a positive outlook for growth. Key points for the Australian economy are:

$1.6 trillion economy (GDP). 26 years of uninterrupted growth (3.3% GDP average growth per annum). Forecast GDP growth rate between 2015 and 2019 is one of the highest among major advanced economies 13th largest economy in the world by GDP. AAA rated sovereign risk profile. Significant location in the booming Asia-Pacific region (Asian region will account for over 40 per cent of global

GDP by 2019). Diverse, globally competitive industries including: resources (minerals and LNG), agriculture, financial

services, education, and research and innovation capabilities particularly in biotechnology, medical science and niche areas of advanced manufacturing.

Source: www.austrade.gov.au/Australia-Benchmark-Report.

Queensland Over the past two decades Queensland’s economic growth has exceeded the national average. This growth has been underpinned by strong economic sectors including agriculture, resources, construction, tourism, manufacturing and services. Queensland is expected to continue to outstrip national growth over the years ahead, especially when growth will be boosted by the ramp-up in LNG exports.

Key statistics around the Queensland economy include the following:

Queensland has a population of 4.74 million*. The state’s population is estimated to double to around 9.1 million people by 2056. Queensland’s economy has consistently been one of Australia’s fastest-growing during the past two

decades, averaging 4.5 per cent growth per year, a full percentage point higher than Australia as a whole (3.5 per cent).

Queensland has a modern, diversified economy, underpinned by its major economic pillars of agriculture, resources, construction and tourism, augmented by manufacturing and a large services sector.

Queensland is expected to overtake Victoria and become the second biggest contributor to national output by 2023.

The completion of a number resource projects, and the commencement of LNG production will contribute a substantial quantum of royalties to the Queensland economy, providing further support to an increasingly strong state fiscal position and underpinning future economic growth.

* Approx.

Source: Queensland Treasury, www.tiq.qld.gov.au and Brisbane Marketing

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Brisbane ‘Brisbane is one of the fastest-growing capital cities in Australia in terms of population and employment. Our residents are young and skilled, highly educated and

culturally-diverse’. With a global outlook, exceptional industry strengths and a new world city edge, Brisbane is enterprising and energised. The city is firmly connected to global markets, yet remains economically resilient. Governed by the largest municipal council in Australia, many multinationals have invested in Brisbane, finding an open, supportive, stable and cost-competitive business environment. Innovators, industry leaders and emerging talent are drawn to Brisbane by the growing opportunity to excel, considerable business benefits and the lifestyle. Brisbane Snapshot The Brisbane economy accounts for almost

half (48 per cent) of Queensland’s economic output and 9 per cent of Australia’s as a whole

Brisbane continues to move towards a knowledge economy that will sustain long-term economic prosperity for the city

Brisbane’s economic growth is being fuelled by a competitive base for doing business, high levels of business investment and innovation

South-East Queensland is one of Australia’s largest metropolitan regions, comprising 3.1 million people, of which approximately 70 per cent reside in the Greater Brisbane area

Much of Brisbane and Queensland’s population growth is driven by overseas and interstate migration, which contributed approximately two-thirds of the state’s new residents. Source: Brisbane Marketing

Queensland Government forecast Brisbane’s population to grow to nearly 3 million by 2031.

Our community is extremely multicultural, with a quarter of Brisbane’s population born overseas and more than 17 per cent of households speaking a language other than English at home. Cantonese, Italian, Mandarin, Samoan and Vietnamese are among some of the most commonly spoken languages.

44 © Copyright Savills

Spring Hill Overview

Spring Hill Spring Hill is located on Brisbane’s northern fringe with excellent amenity and access to the CBD, Fortitude Valley, Inner City Bypass and the Story Bridge. Right next door to the CBD, Spring Hill continues to attract buyers with its unique appeal.

Located 2 kilometres north of the Brisbane central business district, parts of Spring Hill can be considered to be extensions of the Brisbane CBD. Acting as a direct supporting precinct to the Brisbane CBD, Spring Hill is well serviced by road networks, all forms of public transport, as well as numerous cafes, restaurants and shops.

Benefiting from the enormous interest in near and inner-city living, Spring Hill sits north of the CBD bounded by a railway line next to Gregory Terrace, Wickham Terrace, parts of Ann Street and St Pauls Terrace, and Warry and Kennigo Streets. Being directly north of the CBD and its adjoining suburb, it is only minutes away from services and facilities, as well as the nightspots of Fortitude Valley.

Spring Hill is one of Brisbane’s few areas that successfully combine residential living with commercial and professional activities. Spring Hill is continuing with the makeover that started more than 10 years ago. Many older homes have been immaculately restored or new, architecturally designed homes have been built in their place. The area attracts renters who want proximity to the city and this assures the area of continuing investment potential.

The suburb is particularly popular with Brisbane's professionals and attracts strong interest from those who want the benefits of near-city living.

Lifestyle A blend of old and new, Spring Hill is only a hop, skip and jump from the CBD and residents can use the city and the Valley as their playgrounds.

Wickham Terrace is famous for its medical specialists and St Andrew's War Memorial Hospital, which is another of Spring Hill's heritage listed buildings.

New designer buildings and fancy eateries like E'cco have crept from the CBD to the edges of Spring Hill making it a trendy place to live, but also family friendly as there are several schools including Brisbane Grammar School, and childcare centres close by.

Residents can also take an easy walk to Roma Street Parkland or carry on a little further and make their way to South Bank on foot.

Draft Spring Hill Neighbourhood Plan Brisbane City Council has been working with the community to prepare a new neighbourhood plan for Spring Hill. The draft Spring Hill Neighbourhood Plan was recently reviewed by the Queensland Government and is now available for your feedback.

To view a copy or find out more about the draft neighbourhood plan:

visit the Spring Hill Neighbourhood Plan web page here.

55 © Copyright Savills

Spring Hill Demographics

According to the Australian Bureau of Statistics the total population of Spring Hill was 6,149 in 2016. The population is projected to increase to 8,756 by 2036.

The lifestyles and people of Spring Hill

Occupations The main occupations of people living in Spring Hill are: 37.4% Professionals

12.8% Clerical & administrative workers

12.3% Managers

9.3% Community & personal service workers

8.8% Labourers

8.5% Technicians & trades workers

7.2% Sales workers

1.9% Machinery operators & drivers

Home Ownership 11.6% of homes are fully owned

18.0% are in the process of being purchased by home loan mortgage

67.7% of homes are rented

Sources: www.realestate.com.au, http://localstats.com.au/, www.abc.net.au/

66 © Copyright Savills

Demand Analysis

According to Corelogic, 183 apartments were sold and settled in Spring Hill in 2016 with a median sale price of $508,190 per apartment. There were 22 houses that were sold and settled in Spring Hill in 2016 with a median sale price of $1,306,409 per house.

Spring Hill – Medium Property Price

House

Unit

Beenleigh – Weekly Unit Rent

The Residential Tenancies Authority (RTA) provide the following information on units in Beenleigh:

1 Bedroom Flats/Units

Jul-Sep 2015 Jul-Sep 2016 Jul-Sep 2017

Rent ($) New Bonds Rent ($) New Bonds Rent ($) New Bonds 425 272 400 342 390 382

2 Bedroom Flats/Units

Jul-Sep 2015 Jul-Sep 2016 Jul-Sep 2017

Rent ($) New Bonds Rent ($) New Bonds Rent ($) New Bonds

600 293 570 311 540 338

3 Bedroom Flats/Units

Jul-Sep 2015 Jul-Sep 2016 Jul-Sep 2017

Rent ($) New Bonds Rent ($) New Bonds Rent ($) New Bonds 725 46 800 69 742 62

Sources: realestate.com.au, Residential Tenancies Authority Rental Bond Lodgements, Savills Research.

Outline Indicative Only

7 © Copyright Savills

Property Description

Property 5 Reading Street, Spring Hill QLD 4000.

Real Property Description Lot 3 on Registered Plan 205808.

Interest Offered Fee Simple.

Land Area 411 square metres.

Local Authority Brisbane City Council.

Zoning Classification QPP-LMR3 - Low Medium Density Residential (Up to 3 Storeys) Zone

Town Planning The site is also located within the Petrie Terrace and Spring Hill Neighbourhood Plan.

Services Electricity, water, telephone, sealed road, kerb and gutter, footpath & sewer.

* Approx. Outline is indicative only.

8 © Copyright Savills

Building Description

6 Reading Street The front house consists of the following;

Two bedrooms

One bathroom and toilet

Kitchen and living rooms

Cottage style verandah

Laundry and Storage area underneath the house

One off street car park

9 © Copyright Savills

Building Description

5 Reading Street The rear house consists of the following;

Two bedrooms

One bathroom and toilet

Kitchen and living room

Cottage style verandah front and back

Laundry and Storage area underneath the house

One off street car park

10 © Copyright Savills

Market Research Sales Evidence

The following recently sold properties provide an indication of activity in the area:

Address Sale Date Sale Price Land Area (sqm)

429 Gregory Terrace, Spring Hill May-17 $1,452,000 453 sqm

27 Parish Street, Spring Hill May-17 $1,130,000 228 sqm

120 Warren Street, Fortitude Valley Jan-17 $980,000 420 sqm

36 Rosa Street, Spring Hill Feb-17 $950,000 304 sqm

77 Kennigo Street,Spring Hill Aug-17 $895,000 352 sqm

71 Isaac Street, Spring Hill

Mar-17 $875,000 202 sqm

51 Normanby Terrace Kelvin Grove May-17 $870,000 405 sqm

Rate Range High $1,452,000 453 sqm

Rate Range Low $870,000 202 sqm

Average $1,021,714 338 sqm

Sources: Corelogic, Cordells and Savills Research

11 © Copyright Savills

12 © Copyright Savills

Conclusion

Savills are delighted to present 5 Reading Street, Spring Hill to the market.

The key features of this property is summarised below:

5 Reading Street offers the astute buyer the opportunity to secure two prime inner city residences convenientlysituated on one title

Live in one and lease one out

Lease both and enjoy the strong rental and capital growth prospects afforded by an inner city locale.

The existing improvements consist of two freestanding original cottage houses

Each residence boasts two bedrooms, one bathroom with living and kitchens area.

Each property enjoys one off street car park

Centrally located in Spring Hill the property is approximately 200 metres to Brisbane Grammar School, 450metres to Centenary Pool Complex, 800 metres to the Brisbane CBD and a short 1.1kms to the Caxton Streetentertainment precinct.

* Approx.

For Sale Public Auction to be held onsite 11am Thursday 30th November

Disclosure Documents The disclosure documents for the sale of 5 Reading Street, Spring Hill are available here:

Current Title Search Floodwise Property Reports Zoning Map

Draft Contract of Sale The draft contact of sale is available upon request or at savills.com.au/commercialsalesqld

The property video can be viewed by searching “5 Reading Street Spring HIll ” on

Robert Dunne

Commercial Sales QLDT: 07 3002 8806M: 0418 888 840E: rdunne@savills.com.au

Gregory Woods

Commercial Sales QLDT: 07 3002 8825M: 0409 305 224E: gwoods@savills.com.au

SavillsLevel 2, Central Plaza 266 Eagle StreetBrisbane QLD 4000