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Overview
Situated on a substantial 1668sqm two-title allotment, this elevated property in the heart of Red Hill offers a rare opportunity for those seeking scale and flexibility in a premium, village-adjacent location. The existing timber residence, featuring three bedrooms and one bathroom, provides a practical holding income or a comfortable base while future redevelopment plans are being considered.
This land carries significant potential for redevelopment as two separate dwellings, subject to council approval, which makes it a compelling proposition in a sought-after and tightly held market. The property's elevated position affords serene treetop views, which add a sense of privacy and tranquillity to the site.
Its exceptional walkability to Red Hill village allows for pleasant strolls to local cafes, restaurants, and essential services, enhancing convenience and lifestyle. Moreover, the surrounding celebrated wineries and cellar doors, plus proximity to walking and riding trails, enrich the lifestyle appeal for future occupants.
Overall, this offering is well-suited to builders, developers, investors, or buyers seeking an opportunity to capitalise on the location, land size, and redevelopment potential, all within approximately one hour's drive from Melbourne.
Local Market Insights
In Red Hill, Quiet Listings observed 4 new houses entering the market over the last 30 days, down from 5 during the previous 30-day period, with an average advertised asking price of $2,937,500. All new listings observed during this period were Houses. Buxton Real Estate Group 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
Red Hill VIC 3937
Market Insights for Red Hill VIC 3937
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