A narrow block with little more than a carport at the rear has become one of the last slivers of undeveloped land in Petrie Terrace, with the agent marketing it calling it the smallest parcel he has ever handled.
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The 185 square metre block at 38 Regent Street is one of only four vacant lots remaining in the suburb, two of which have already been earmarked for development. Beyond a small shed and carport at the rear, and a patch of unprotected vegetation that would need clearing, the site is otherwise vacant. Services can be connected to the block, though that is subject to authority approval.
Ray White Paddington agent Nicholas Hall, who is handling the listing, said it was the smallest parcel of land he had ever brought to market. He said there had been roughly 50 enquiries so far, despite a delay while some matters were sorted out with Urban Utilities. Most of that interest, he said, has come from developers and builders, with a handful of investors also circling.
A slightly larger parcel in Petrie Terrace sold for $1.115 million roughly two years ago, and a house has since been completed on that site. He said vacant land in the suburb had become extremely rare. Only four undeveloped blocks remain across the entire 4000 postcode pocket.
Part of the appeal lies in the address itself. Petrie Terrace sits within walking distance of Roma Street Parklands, South Bank and the CBD, while Caxton Street and Suncorp Stadium are practically on the doorstep. A handful of the venues earmarked for the 2032 Brisbane Olympics will also be a short stroll away. For buyers thinking long term, the suburb is close to Brisbane Grammar, Terrace, the University of Queensland, QUT, Petrie Terrace State School and Kelvin Grove State College, along with everyday essentials like the cafe next door to the block itself.
A shrinking pool of vacant land
The Petrie Terrace listing fits into a broader pattern playing out across Brisbane, where blocks of undeveloped land within the inner city are becoming harder to find. A search of the Greater Brisbane market turned up just 24 blocks of between 700 and 800 square metres, among them a 760 square metre site at Indooroopilly listed for offers over $2.5 million.
At the smaller end of the scale, the record for the tiniest block sold in Queensland still belongs to an 89 square metre parcel that changed hands for $550,000 in February this year. That sale eventually went to a family of three who had spent six years trying to get a foothold in the property market, a reminder that even the most modest patches of dirt can carry outsized significance for buyers locked out of more conventional options.
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Whether the Regent Street driveway ultimately ends up as someone’s first home or another developer’s project remains to be seen. But its presence on the market, however small the footprint, says plenty about how tight Brisbane’s inner-city land supply has become.
Published 18-June-2026
