2 Peterson Street

Commanding the highest elevated position atop prestigious Gabba Hill, this renovated Queenslander presents a rare opportunity to secure a prime inner-city holding with strong immediate income and an exceptional long-term upside. Currently leased at $1,200 per week ($62,400 per annum) on a 12-month agreement (would love to stay on after that as well), the property offers secure returns from day one - making it ideal for investors, SMSF buyers, or strategic land bankers seeking a premium position in a high-growth precinct with excellent school catchment and transport/infrastructure precinct.

Located within walking distance to the Mater Hospital, South Bank and the Woolloongabba dining and lifestyle precinct, and positioned in the prized catchments for Brisbane State Secondary College and Dutton Park Primary School, this is an address underpinned by enduring demand. With Cross River Rail transforming the immediate area, future connectivity will only strengthen capital growth prospects. Character & Quality Above The upper level showcases timeless Queenslander elegance enhanced by executive-level renovation:

• Soaring 13ft VJ ceilings
• Polished pine floorboards
• French doors to wraparound verandahs
• Decorative fretwork and coloured glass
• Ducted air-conditioning throughout Open-plan living flows seamlessly to an elevated L-shaped verandah, while the designer kitchen features stone benchtops, gas cooking, quality appliances and a walk-in pantry with backyard outlook. Two generous bedrooms plus a fitted dressing room completes the upper level, along with a rear entertaining deck capturing sparkling city views. ________________________________________ Flexible Lower Level: Internal stairs connect to a versatile lower level offering:
• Two separate areas with exterior windows and built ins
• Expansive air-conditioned and tiled area
• Stylish modern bathroom with statement egg bath and separate shower
• Double garage with secure internal access (Please note: the lower level does not meet legal height requirements; however, it provides substantial additional living flexibility.) ________________________________________ Rare 550sqm Inner-City Landholding: Set on a level 550sqm allotment - an increasingly scarce offering this close to the CBD - the property provides a flat grassed backyard and strong long-term redevelopment or enhancement potential (STCA).

Secure additional off-street parking further enhances practicality. ________________________________________ Invest, Land Bank or Secure for the Future Currently leased at $1,200 per week ($62,400 per annum) on a 12-month agreement (would love to stay on after that if offered), the property offers secure returns from day one - making it ideal for investors, SMSF buyers, or strategic land bankers seeking a premium position in a high-growth precinct with excellent school catchment and transport/infrastructure precinct.

With quality tenants in place, blue-chip school catchments, major infrastructure investment nearby, easy walk into Southbank and a substantial land component, this is a strategic acquisition in one of Brisbane's most dynamic inner-city growth corridors. Added 03 March, 2026 Property ID: #L39679568 Show More