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Overview
Rare Development Opportunity in Prime Mount Pleasant Location!
Discover an exceptional investment and development prospect at 62 Magpie Street, Mount Pleasant. This is more than just a property; it's an opportunity strategically positioned in one of Ballarat's most sought-after areas.This unique offering comes with the highly coveted advantage of an existing Planning Permit (extension granted and to be issued in Jan 2026) to build 6 additional residential dwellings on the substantial block, providing an immediate pathway to maximizing your return.Development Ready: Skip the lengthy approval process! The hard work has been done, allowing you to commence development almost immediately and capitalize on the strong demand for housing in this prime locale. The vendor has applied for an extension on the permit and will be issued in January 2026.Currently Rented: The property is currently rented on a periodic basis for $590pw. Massive Income Potential: With planning permission for a total of 7 dwellings (the existing home plus 6 new units), this site offers significant scope for rental income generation or profitable unit sales upon completion.The success of any development hinges on its location, and 62 Magpie Street delivers on every front. Situated in the heart of Mount Pleasant, residents will enjoy unparalleled lifestyle convenience:Tourist Hub: Just a short stroll to the globally renowned Sovereign Hill, ensuring consistent interest from both residents and potential short-term rental markets.Everyday Convenience: Enjoy the ease of walking to local shops and cafes, providing a vibrant community feel and essential amenities right on the doorstep.Accessibility: Excellent access to public transport and major roads ensures easy connectivity to the Ballarat CBD, schools, and essential services.Don't miss this chance to secure a strategic piece of real estate with approved plans for significant expansion. This is a highly desirable, blue-chip location that appeals equally to developers, builders, and investors seeking a ready-to-go project with a clear path to profit.Act now to secure this premium development site!*Plans and documentation available upon request.
Change History
| Headline | When |
|---|---|
| $990,000 - $1,080,000 | |
| $1,100,000 - $1,200,000 |
Location
Mount Pleasant VIC 3350
Market Insights for Mount Pleasant VIC 3350
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* 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.
