329-347 Diamond Creek Road, Diamond Creek

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329-347 Diamond Creek Road, Diamond Creek VIC 3089

$9,500,000 - $10,450,000

Search Band Search Visibility Band

$9.5M - $10M High Confidence Calculated based on strong search observations.

Land 15.57 acres

Listed: 5th Apr 2024

Updated: 17 days ago

Overview

A significant parcel of land totalling approximately 15.56 acres (63,000 square metres), located on Melbourne’s urban fringe just 21 kilometres from the CBD, offers an exceptional opportunity for investors and developers. This blue-chip investment promises strong returns and significant future capital growth potential.

The property is strategically bordered by Diamond Creek Road and Yan Yean Road, providing excellent access and visibility. It presents outstanding land banking options with potential for future subdivision, subject to council approval (STCA). The site is well-suited for a variety of development possibilities, including residential or mixed-use projects.

Historically, the site was home to the original orphanage building designed by James Wardrop, an architect known for the Shrine of Remembrance. The land has been utilized for various purposes over the years, including a dynamic mix of tenancies ranging from childcare to allied health and state parliamentary offices.

Unique land holding on Melbourne’s urban fringe, approximately 15.56 acres.
Potential for long-term subdivision and development (STCA).
Dual access via Yan Yean Road and Diamond Creek Road.
Close proximity to essential services including major arterial roads, bus services, and shopping centres.
Nearby amenities include educational institutions, retail, and community facilities.
Current zoning RCZ3 - Rural Conservation Zone 3, offering potential for future land use changes.

This property is ideal for investors seeking a significant land holding with future development upside or for those looking to secure a strategic asset in a growth corridor. The location benefits from excellent connectivity and a strong local community, making it a highly desirable site for future projects.

Nearby schools and educational facilities include St Thomas the Apostle School, Plenty Valley Montessori School, St Helena Secondary College, and Diamond Creek Primary School, among others, providing strong community infrastructure support.

Overall, this land parcel represents a rare and valuable opportunity to acquire a substantial site with multiple potential uses, positioned for long-term growth and success.

Local Market Insights

In Diamond Creek, Quiet Listings observed 27 new parcels of land entering the market over the last 30 days, up from 2 during the previous 30-day period, with an average advertised asking price of $514,815. The property type mix of listed properties is predominantly Land at 60%, followed by houses (33%), and units (4%). The most active agency for land in the Diamond Creek area is currently Jellis Craig, representing 93% of new listings. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.