INDUSTRY NEWSNEWSQLD

Block less than five metres wide expected to fetch more than $400,000

A narrow strip of land containing little more than a footpath has hit the market with an asking price of $400,000-plus.

Located at 27 Leslie Crescent, Caloundra West, the block is just 4.6m wide and comprises 129sq m of land, according to its realestate.com.au listing.

The listing also reveals the reason for the footpath running through the centre of the unique parcel of land – Stockland currently leases the block, which sits in front of its shopping centre.

“Currently a lease is in place over this land, meaning the new owner will get a healthy return during the planning stage of their brand new home,” the listing said.

“The property currently has a footpath through the land. It is Stockland’s responsibility to restore the block to a vacant condition after the end of the lease.”

The block of land is 4.6m wide and 28.1m long. Source: realestate.com.au

The block, which is 28.1m long, would suit a terrace-style home.

It is also located opposite a cafe and children’s playground, as well as being just a 100m walk from the tavern and Baringa State School.

“The school is part of a new collaborative concept between the Queensland Government and Stockland,” according to the listing.

“It will see the development of state-of-the-art facilities made for learning, teaching and play, including a robotics lab, recording studio, innovation hub and an indoor sports and performance centre.”

The unique block of land is right next door to this cafe and playground. Source: realestate.com.au

Richardson & Wrench Coolum agent James Henley told news.com.au that interest in the unique block of land had been strong. 

“It’s a hot area, it’s a new estate, it’s more affordable than other suburbs in the Sunshine Coast,” Mr Henley said.

Mr Henley said having a footpath running through the block wasn’t too unusual.

“The footpath is just a lease, it’s a vacant lot which the lessee is renting for the footpath,” he explained to news.com.au.

“It’s up to the lessee to remove the footpath, then you’re back to a vacant lot to build on.”

The lease runs until September 2022.

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Kylie Dulhunty

Kylie Dulhunty is the Deputy Editor at Elite Agent.