10 & 12 Frederick Street

Rarely does an opportunity of this magnitude and versatility present itself in such a blue-chip pocket. Offering two entire blocks of flats side-by-side on a prime 1,214m² amalgamated LMR2 allotment, this property represents a significant land holding with immediate rental upside and substantial future development potential. Right in the heart of Alderley, the site offers a rare opportunity for the savvy buyer: a high-yield investment to hold with exceptional cash flow, a renovation project to add value, or a strategic site for future flagship redevelopment (STCA).

Built to an exceptional standard, these two solid brick complexes are in immaculate condition, offering a low-maintenance asset profile that is well-placed to capitalize on Brisbane's tight rental market while you plan your next move. Positioned just 5.5km from the CBD, the location boasts a commanding dual-street frontage onto Wakefield Street, capturing elevated city views and ensuring low vacancy rates and long-term capital appreciation through proximity to major infrastructure and lifestyle drivers. Features:

• LMR2 Zoned 1,214m² Allotment: A substantial, relatively flat land footprint across two neat 607m² titles. Favorable zoning and a 60-meter total frontage provide a secure foundation for premium future redevelopment and long-term land banking.
• Impeccable Build Quality & Features: Comprising 8 two-bedroom units in total, the two solid brick structures boast an incredibly high standard of construction. Features include high ceilings, separate oversized garages, and independent downstairs laundries. With some units already renovated, the buildings are in excellent condition and designed for low-maintenance upkeep.
• Dual Street Frontage & City Views: Exceptional dual access via Frederick and Wakefield Streets optimizes any future design, while the elevated aspect unlocks striking, permanent views of the Brisbane CBD skyline, Brickworks and the beautiful treed suburbs of Brisbane
• High-Yield Holding Income: The property currently returns approx. $171,000 per annum, with an immediate market lease path to lift the yield substantially.
• Retail and Convenience: A flat 300m walk to Alderley Village and Coles, offering tenants or future home owners effortless, immediate access to everyday essential services, cafes, and dining options.
• Transport Connectivity: Just 300m walk to the Alderley Train Station alongside local bus interchanges, providing direct and frequent transit links straight to the Brisbane CBD for ultimate commuter convenience.
• Rental Appraisal: $220,000 - $230,000 p.a.

For a full income and expenditure IM, please make an on-line enquiry. This is a rare chance to acquire a significant footprint with highly favourable zoning in one of Brisbane's most resilient and high-performing inner-north suburbs. Sited within the boundary of the Alderley Centre Suburban Renewal Precinct and surrounded by quality new developments like Brickworks Park and Breath Residences, as well as the major proposed Station Quarter project, Alderley is now firmly on the radar and is destined to be a future jewel in Brisbane's inner-northern suburbs.

Please make an enquiry for the Income and further documentation. The property is currently fully rented and at no stage have the units been vacant for more than a couple of days. View by inspection only. Contact us today to arrange your private viewing and secure this premier asset. Added 29 June, 2026 Property ID: #L16688452 Show More