Leasehold property – can i buy the land back

Hi All,
I am flying interstate tomorrow to look at some investment properties.  My question is that the area i am looking at has a lease hold property for sale.  I have been told that you can buy the land  back from the department of resource and management (the house is in Queensland and has 23 years left on the land lease).  The yield on this home would be around 13.8% if i just purchase the home, and around 10% if i go on to pay the $107,000 for the land as well.  Anyone familiar with how this works and if purchasing the land is as easy as it sounded.

thanks so much