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Overview
Situated on a generous 1,008 square metre allotment in a central and sought-after area of Mount Gambier, this property offers a unique development opportunity. The existing home, built around 1930 and currently vacant, provides versatility for various potential buyers including developers, investors, and builders. Its three-bedroom layout includes two spacious rooms with built-in robes plus a smaller third bedroom, accommodating diverse household needs.
The updated kitchen and modern bathroom enhance the home's contemporary comfort, while climate control features like a reverse cycle air conditioner and a gas fireplace ensure year-round usability. This combination makes the residence functional for immediate occupation or leasing, while development plans proceed.
Significantly, the property has received Council and Planning Approval in Principle for a Community Title subdivision. This approval offers a substantial advantage to those aiming to unlock the site's development potential, with prepared plans for two new townhouses at the rear of the block. Although the subdivision has not yet been lodged or completed, the groundwork already completed reduces preliminary hurdles. Purchasers should note that any costs to finalize the subdivision will be their responsibility.
Located close to the central business district, shopping areas, schools, medical facilities, cafes, and other everyday conveniences, this property deftly balances location convenience with development prospect. As demand continues for quality housing and strategically located sites, opportunities like this become increasingly rare.
This offering is suitable for buyers seeking immediate redevelopment potential, those wanting to expand their investment portfolio, or anyone looking for a property with considerable future value. The combination of a solid existing home and subdivision approvals presents a well-rounded prospect to capitalize on the steadily growing market in Mount Gambier.
- Land size: Approximately 1,008sqm
- Property Built: Approximately 1930
- Council Rates: Approximately $417 per quarter
- Council Zoning: City of Mount Gambier
- Current Rental Appraisal: $380 - $400 per week market estimate
Local Market Insights
In Mount Gambier, Quiet Listings observed 29 new houses entering the market over the last 30 days, up from 10 during the previous 30-day period, with an average advertised asking price of $626,897. The property type mix of listed properties is predominantly Houses at 63%, followed by units (13%), and commercial properties (11%). Malseeds Real Estate was the most active agency in this area, representing 31.1% 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
Mount Gambier SA 5290
Market Insights for Mount Gambier SA 5290
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.
