129 Butterfield StreetHerston QLD 4006
Property Details for 129 Butterfield St, Herston
Last Listing description (August 2025)
We are proudly presenting an outstanding opportunity to purchase one of Brisbane's most significant accommodation facilities Herston Lodge.
Centrally located in the near-city suburb of Herston, the 2,762 sqm Low-Medium Residential density (2 or 3 storey mix) allotment is situated 3.5 km by road north of the Brisbane GPO, 1.6 km north east of QUT Kelvin Grove and 800 metres west from the Royal Brisbane Women's Hospital.
The facility is accredited for a maximum of 91 residents and comprises three buildings and 68 bedrooms. The main building features 57 rooms with four sets of male and female bathrooms, a laundry, a commercial kitchen, two living areas, and staff amenities. The colonial dwelling offers 11 rooms, bathroom facilities, storage, and a laundry. The neat and tidy complex includes a substantial 18.7kw solar system and ample onsite car parking. The gross floor area is estimated at 1,320 square metres.
The property is leased by a Level 3/NDIS provider, paying approximately $292,000 per annum net, with all outgoings being recoverable. The tenant has been in occupation since 2018 and recently signed a new lease expiring December 2028. Rent reviews are 5% per annum and the lease includes a mutual 6-month break lease clause for either the lessor or lessee to operate.
Herston Lodge presents a significant opportunity to explore the development potential of the 2,762 sqm LMR allotment, operate a large accommodation facility, or retain the existing tenant.
Demand for rooming accommodation is currently sky-high, and rents have increased dramatically over the past 12 months throughout Brisbane. With minimal capital works, Herston Lodge could be converted (subject to approval) to a large-scale Level 1 rooming accommodation facility, capitalizing on the shortage of rooms throughout Brisbane.
The property presents a versatile and lucrative investment opportunity with multiple pathways for the discerning investor. Please contact me for more information and inspections are strictly by appointment.
Property History for 129 Butterfield St, Herston, QLD 4006
- 09 Sep 2024Sold for $4,475,000
- 10 Jun 2024Listed for Sale Under Contract
- 21 Mar 2014Sold for $1,400,000
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About Herston 4006
The size of Herston is approximately 1.6 square kilometres. It has 6 parks covering nearly 48.2% of total area. The population of Herston in 2016 was 2215 people. By 2021 the population was 2311 showing a population growth of 4.3% in the area during that time. The predominant age group in Herston is 20-29 years. Households in Herston are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Herston work in a professional occupation.In 2021, 39.40% of the homes in Herston were owner-occupied compared with 35.50% in 2016.
Herston has 1,167 properties. Over the last 5 years, Houses in Herston have seen a 73.44% increase in median value, while Units have seen a 128.53% increase. As at 31 December 2025:
- The median value for Houses in Herston is $1,692,769 while the median value for Units is $1,080,377.
- Houses have a median rent of $690 while Units have a median rent of $650.
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