Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.
Overview
Expression of interest ends Saturday 21st March 5 PM.
This property presents a unique opportunity for developers and investors alike. The substantial land holding of approximately 724 square meters is primed for redevelopment, with town planning approvals already in place for the construction of two contemporary townhouses and nine well-designed apartments.
The existing dwelling is scheduled for removal, paving the way for a new development that promises to deliver significant value. The approved plans include:
- Townhouse 1 - Conventional Living - 2 Bedrooms, 2 Bathrooms, 1 Car Space
- Townhouse 2 - Reverse Living - 2 Bedrooms, 2 Bathrooms, 1 Car Space
- Apartment 1 - 2 Bedrooms, 1 Bathroom, 1 Car Space
- Apartment 2 - 2 Bedrooms, 1 Bathroom, 1 Car Space
- Apartment 3 - 1 Bedroom, 1 Bathroom, 1 Car Space
- Apartment 4 - 1 Bedroom, 1 Bathroom
- Apartment 5 - 2 Bedrooms, 1 Bathroom, 1 Car Space
- Apartment 6 - 2 Bedrooms, 1 Bathroom, 1 Car Space
- Apartment 7 - 1 Bedroom, 1 Bathroom
- Apartment 8 - 1 Bedroom, 1 Bathroom
- Apartment 9 - 2 Bedrooms, 1 Bathroom, 1 Car Space
With groundwork already completed and approvals secured, this development opportunity significantly reduces holding risks and planning uncertainties. It is ideal for those looking to expand their portfolio or undertake a boutique project that combines scale, certainty, and exceptional future potential.
Highlights of the property include:
- Approximately 724 square meters of land
- Existing dwelling slated for removal
- Plans and permits secured for two townhomes and nine apartments
- Streamlined pathway to construction
- Reduced holding and planning risk
- Excellent local connections, just minutes from Reservoir Train Station
All property information has been provided by third parties. While efforts have been made to ensure accuracy, it is recommended that interested parties conduct their own inquiries regarding this property.
Local Market Insights
In Reservoir, Quiet Listings observed 46 new houses entering the market over the last 30 days, up from 35 during the previous 30-day period, with an average advertised asking price of $1,000,870. The property type mix of listed properties is predominantly Houses at 42%, followed by townhouses (31%), and units (19%). Ray White was the most active agency in this area, representing 30.4% 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.
Change History
| Headline | When |
|---|---|
| Private Sale - $780,000 - $850,000 | |
| EOI - $780,000 - $850,000 | |
| EOI - $800,000 - $880,000 | |
| Auction - $800,000 - $880,000 | |
| Auction - $900,000 - $990,000 | |
| EOI - $900,000 - $990,000 | |
| EOI - $1,000,000 - $1,100,000 |
Location
Reservoir VIC 3073
Market Insights for Reservoir VIC 3073
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