Built almost a hundred years ago, 'Ithaca Fire Station' has become an iconic building in central Paddington. Sitting atop one of Brisbane's highest ridges, the building has undergone extensive restoration over the past 20 years and now offers a mix of uses.
The lower level is a commercial space covering 175m2 and returning a very healthy income, while the upper level has evolved into a magnificent residence that offers expansive views from the City to Mt Cootha.
The options are many for this fascinating property. You may want to live upstairs and rent down, live upstairs and run your business from downstairs, (at the end of the current lease) or you may lock the property into your Super Fund and watch it grow.
The size of Paddington is approximately 2.5 square kilometres. There are 10 parks, covering nearly 1.4% of the total area. The population of Paddington in 2016 was 8562 people. By 2021 the population was 9063 showing a population growth of 5.8% in the area during that time. The predominant age group in Paddington is 20-29 years. Households in Paddington are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Paddington work in a professional occupation.In 2021, 55.60% of the homes in Paddington were owner-occupied compared with 52.40% in 2016.
Paddington has 4,620 properties. Over the last 5 years, Houses in Paddington have seen a 57.83% increase in median value, while Units have seen a 100.41% increase. As at 30 April 2026:
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