214 Waterworks Road, Ashgrove, QLD 4060 | Commercial for sale | OnTheHouse
 
FOR SALE
AUCTION - 25 NOVEMBER 2026

214 Waterworks Road
Ashgrove QLD 4060

Bedrooms: -
Bathrooms: -
Car spaces: 27
Floor area: 640m2
Land area: 1260m2
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Auction Time
Wed 25 Nov 11:00 am
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VALUE-ADD INVESTMENT WITH SIGNIFICANT UPSIDE - PRIME ASHGROVE LOCATION

An appealing opportunity for investors seeking immediate holding income, value-add potential and longer-term strategic upside in one of Brisbane's established inner-city suburban locations.
Positioned on prominent Waterworks Road, in the heart of inner-city Ashgrove and just 4km from the Brisbane CBD, this multi-tenanted mixed retail and commercial investment presents an outstanding opportunity to secure a substantial landholding in a tightly held inner-city location.
Set on a generous 1,260sqm allotment, the property comprises approximately 640sqm* Net Lettable area of existing improvements across two levels, providing diversified holding income and an opportunity to unlock further value through refurbishment, rental reversion, and strategic repositioning. With a short-term holding income, the property offers incoming investors the flexibility to review existing tenancies, undertake targeted capital improvements and capitalise on the potential to increase rental income over time. Existing national tenants, including Pizza Hut and Cash Converters, provide an established income base while future value-add strategies are explored. The substantial site also presents a potential longer-term redevelopment opportunity, subject to relevant planning approvals, with sought after DC1 (District Centre) zoning providing an additional dimension to the investment proposition.
Investment Highlights:
• Prominent main-road exposure along Waterworks Road
• Prime Ashgrove location, approximately 4km from the Brisbane CBD
• Substantial 1,260sqm landholding
• Sought after DC1 (District Centre) zoning
• 640sqm* Net Lettable Area of existing improvements over two levels
• Multi-tenanted mixed retail and commercial investment
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Property Details for 214 Waterworks Rd, Ashgrove

Building Type
Commercial
Floor Size
640m2
Land Size
1260m2
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About Ashgrove 4060

The size of Ashgrove is approximately 5.9 square kilometres. There are 33 parks, covering nearly 17.2% of the total area. The population of Ashgrove in 2016 was 13039 people. By 2021 the population was 13450 showing a population growth of 3.2% in the area during that time. The predominant age group in Ashgrove is 10-19 years. Households in Ashgrove are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Ashgrove work in a professional occupation.In 2021, 71.50% of the homes in Ashgrove were owner-occupied compared with 69.00% in 2016.

Ashgrove has 5,654 properties. Over the last 5 years, Houses in Ashgrove have seen a 41.17% increase in median value, while Units have seen a 97.42% increase. As at 30 September 2026:

  • The median value for Houses in Ashgrove is $1,963,545 while the median value for Units is $917,509.
  • Houses have a median rent of $900 while Units have a median rent of $650.
There are currently 35 properties listed for sale, and 9 properties listed for rent in Ashgrove on OnTheHouse. According to Cotality's data, 206 properties were sold in the past 12 months in Ashgrove.

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Trent Bruce
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Keelan Mylius
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Raine & Horne Commercial Brisbane North
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