1 Japonica Court
Newcomb, VIC 3219

Overview

Unique opportunity for savvy investor in high-g...

Expressions of interest are now open for this unique property located in the high-growth area of Newcomb. This residence offers a rare opportunity for savvy investors or developers seeking a versatile land parcel with potential for subdivision and development.

The property sits on a generous 604 square meter block, presenting an ideal layout for a two-lot subdivision. This potential is supported by current City of Greater Geelong (COGG) planning and pre-designation policies, making it highly suitable for a two-stage development approach. The existing dwelling provides comfortable living accommodation while development plans are considered or executed.

The home itself is a charming 1950s era cottage that has been thoughtfully upgraded in recent years. Renovations include enhancements to the kitchen and main bathroom, the addition of a powder room or ensuite, and the installation of a brand new split system air conditioning unit. These improvements have been made since the property last changed hands in 2023, ensuring a modern and comfortable living environment.

Currently, the property is tenanted under a lease agreement that extends until January 2027. This provides immediate rental income for investors, with the option to either continue the tenancy or negotiate an early release or extension with the tenant. This flexibility adds to the appeal for investors looking for both income and development potential.

Additional benefits include the availability of long settlement periods of up to 90 days upon request, offering convenience and flexibility for buyers.

Overall, this property represents a compelling investment or development opportunity in a sought-after location, combining a solid existing home with significant land and subdivision potential.

Location