65-67 Banana Street, Redland Bay, QLD 4165 | House for sale | OnTheHouse
 
FOR SALE
$2,999,999

65-67 Banana Street
Redland Bay QLD 4165

Bedrooms: 4
Bathrooms: 2
Car spaces: 5
Land area: 1618m2
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Exceptional Development Site with Waterfront Potential

Positioned on a substantial 1618m² allotment in the heart of Weinam Creek, 65-67 Banana Street presents an exceptional development opportunity with outstanding long-term potential. Whether you´re looking to hold and earn strong rental returns from the existing property or capitalise on the site´s future by developing a seven-storey unit complex (STCA), this is a rare chance to secure a blue-chip investment in one of Redland Bay´s most exciting growth corridors. This visionary precinct will feature a vibrant mix of residential, retail and community spaces, including restaurants, cafés, a supermarket and other modern amenities—all designed to activate the foreshore and enhance liveability for residents and visitors alike.
The site features a four-bedroom and two-bathroom home currently leased at $620 per week, providing a solid holding income. Adding further value are 22 on-site car parks, each rented at $150 per month, delivering additional consistent revenue. This combined income stream makes the property a compelling proposition for investors seeking both immediate cash flow and substantial future growth potential.
Offering excellent waterfront potential, this site is zoned for redevelopment and set to benefit from upcoming infrastructure improvements in the area. With its generous land size and premium location, the possibilities here are endless—create a multi-unit development, landbank for future growth, or continue enjoying strong income while planning your next move.
Conveniently located just moments from the Redland Bay Marina and ferry terminal, you´re also only a short 10-minute stroll to Redland Bay Village, home to Woolworths, cafés, takeaways, and the iconic Redland Bay Hotel. Families will appreciate the close proximity to highly regarded schools including Redland Bay State School, Kimberley College and Calvary Christian College, while Victoria Point Shopping Centre is only 12 minutes away for even more retail and dining options.
- Large 1618m² block with redevelopment zoning
- Potential for seven-storey unit complex (STCA)
- Prime location in Weinam Creek growth area
- Strong rental returns and investment upside
- Walk to marina, shops, cafes, and transport
- Close to schools and major shopping centres
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Property Details for 65-67 Banana St, Redland Bay

65-67 Banana St, Redland Bay is a 4 bedroom, 2 bathroom House with 5 parking spaces. The property has a land size of 1618m2. The place is currently for sale with FreedomProperty.

Building Type
House
Land Size
1618m2
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About Redland Bay 4165

The size of Redland Bay is approximately 47.6 square kilometres. It has 40 parks covering nearly 13.5% of total area. The population of Redland Bay in 2016 was 14958 people. By 2021 the population was 17056 showing a population growth of 14.0% in the area during that time. The predominant age group in Redland Bay is 10-19 years. Households in Redland Bay are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Redland Bay work in a trades occupation.In 2021, 75.50% of the homes in Redland Bay were owner-occupied compared with 73.20% in 2016.

Redland Bay has 8,214 properties. Over the last 5 years, Houses in Redland Bay have seen a 88.98% increase in median value, while Units have seen a 106.44% increase. As at 30 November 2025:

  • The median value for Houses in Redland Bay is $1,123,502 while the median value for Units is $889,373.
  • Houses have a median rent of $750 while Units have a median rent of $680.
There are currently 85 properties listed for sale, and 48 properties listed for rent in Redland bay on OnTheHouse. According to Cotality's data, 456 properties were sold in the past 12 months in Redland bay.

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