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Overview
Situated on a substantial 1,406 square meter allotment, this property offers a rare and valuable development opportunity within the thriving Hastings region. The site benefits from a development permit, subject to council approval, enabling prospective buyers to explore multiple avenues for growth and investment.
Currently zoned as General Residential, this expansive land parcel hosts a building configured with 12 separate rooms, supported by 4 distinct bathrooms and 4 toilets. A functional kitchen is part of the setup, enhancing its versatility. The property also features 14 parking spaces situated towards the rear, accommodating significant vehicle capacity for commercial or residential use.
As an income-producing asset, the property presently operates under tenancy by an NDIS-related business, with leasing arrangements extending until 28 February 2025, generating approximately $52,000 per annum. This steady income stream supports the asset’s value while allowing exploration of future potential.
The location is highly strategic, positioned within easy walking distance to the heart of Hastings town centre. Residents or businesses will enjoy convenient access to shopping precincts, cafes, restaurants, medical facilities, and various amenities that foster day-to-day lifestyle ease.
Beyond current use, the property has an existing planning permit that facilitates construction of a residence featuring 4 bedrooms, each with an ensuite bathroom, complemented by a large separate lounge and a double garage towards the rear. Architecture plans are available for review, offering a concrete foundation for future development projects.
Additionally, the site enjoys a prime locality less than 500 meters from the Marina, providing scenic and recreational benefit, indicative of strong lifestyle appeal and potential appreciation.
While existing use rights allow for office or commercial purposes, prospective buyers are encouraged to consider redeveloping the site for residential unit development or business activities, capitalizing on the growth trajectory and council provisions within the region.
Overall, this property represents a compelling investment or development opportunity combining size, location, income potential, and planning permissions within the growth area of Hastings.
Local Market Insights
In Hastings, Quiet Listings observed 8 new houses entering the market over the last 30 days, down from 40 during the previous 30-day period, with an average advertised asking price of $1,665,625. The property type mix of listed properties is predominantly Houses at 42%, followed by units (16%), and land (16%). Murnane Real Estate was the most active agency in this area, representing 37.5% 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
Hastings VIC 3915
Market Insights for Hastings VIC 3915
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