Approved Potential on a Convenient Corner

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18 Johnson Street, Reservoir VIC 3073

Private Sale - $900,000 - $950,000

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$900k - $945k Transparent Transparent Listing Based on an openly advertised listing price.

Land 615 m²

Listed: 6th Jul 2026

Updated: 14th Aug 2026

Overview

This vacant corner block located at 18 Johnson Street, Reservoir, offers an exceptional opportunity for developers and investors with an approved planning permit for three sizeable three-bedroom townhouses. The site commands a well-positioned locale close to vital amenities including Keon Park Station, a variety of local shops, eateries, and expansive parkland, alongside convenient access to schools and the Ring Road.

The land spans approximately 615 square meters and benefits from uniform dimensions and a minimal gradient, simplifying construction logistics and offering versatility in design and layout. Zoned under General Residential Zone 2 (GRZ2), the land aligns with residential development aspirations while supporting growth within the community.

The approved townhouse plans introduce homes designed around functional living with all units featuring three bedrooms, including main bedrooms with walk-in robes, central bathrooms, additional separate toilets, and open-plan living/dining/kitchen areas that flow seamlessly to north-facing courtyards. Practical aspects such as garages with internal access and secondary driveway parking enhance the appeal by addressing residents' parking needs.

Comprehensive due diligence has been completed to streamline the development process, with energy ratings, soil reports, surveyor assessments, and civil drawings all in place, reducing uncertainties for prospective developers. With a deadline sale scheduled for 1st August, this property suited for those seeking a development site with approved plans in a well-connected, sought-after area.

Local Market Insights

In Reservoir, Quiet Listings observed 2 new parcels of land entering the market over the last 30 days, with an average advertised asking price of $1,125,000. The property type mix of listed properties is predominantly Houses at 48%, followed by units (23%), and townhouses (23%). The only agency with for land listings currently monitored in the Reservoir area is Ray White. 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.