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Overview
This property at 110 Waverley Road, Chadstone, presents a compelling prime development opportunity for developers and investors alike. Situated on a substantial land size of 602 square meters, the site features strategic approvals enabling the construction of four contemporary townhomes when combined with the neighboring property at 112 Waverley Road, totalling 1204 square meters. This planning approval allows developers the confidence and flexibility to pursue a sought-after residential project within one of Chadstone's most desirable precincts.
From a location perspective, the property enjoys exceptional convenience and accessibility. It is just moments from the renowned Chadstone Shopping Centre, providing a wealth of retail and lifestyle amenities. Additionally, the site benefits from nearby café precincts in Oakleigh, enhancing the lifestyle appeal for future residents.
Transport connectivity is excellent, with Holmesglen train station close by, facilitating easy commuter access to Melbourne's metropolitan region. Furthermore, the location is well-positioned to quality education facilities, including St Mary Magdalen's Primary School and Salesian College, making it highly attractive to families.
The locality is also enriched by a range of parks and recreational spaces, along with seamless access to the Monash Freeway, which ensures efficient travel in and out of the area. Surrounded by established infrastructure, the site is poised to deliver solid returns for developers capitalizing on this rare opportunity.
The existing property is a residence featuring three bedrooms, two bathrooms, and two parking spaces, including two carports. The dwelling complements the development prospects offering options such as renovation, redevelopment, or integration into the broader townhome project.
Overall, this offering is positioned as a highly lucrative and rare opportunity to secure a sizeable parcel in a thriving and well-connected Melbourne suburb. Buyers and developers are encouraged to conduct their due diligence to explore the full potential of this exceptional site.
Local Market Insights
In Chadstone, Quiet Listings observed 4 new houses entering the market over the last 30 days, down from 8 during the previous 30-day period, with an average advertised asking price of $1,387,500. The property type mix of listed properties is predominantly Townhouses at 31%, followed by houses (25%), and apartments (19%). Ray White was the most active agency in this area, representing 25.0% of all new listings in the last 30 days. 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.
Location
Chadstone VIC 3148
Market Insights for Chadstone VIC 3148
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
