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Overview
Located in the prestigious Malvern area, 2 & 4 Drysdale Street represent a rare and substantial development opportunity. This combined landholding spans approximately 1,158 square metres, delivering a generous 27.1-metre frontage which offers a versatile canvas for future high-density development, subject to council approval. The property's zoning within the Housing Choice & Transport Zone (HCTZ1) encourages various residential uses, ensuring flexibility and potential for diverse development outcomes.
The site is strategically positioned between Glenferrie Road’s vibrant retail precinct and the renowned Cabrini Health precinct, both of which provide exceptional lifestyle, retail, medical, and transport amenities. Immediate access to quality public transport, including the Malvern Railway Station and multiple tram routes, further enhances the site's connectivity and convenience.
The landholding is comprised of two adjoining titles: 2 Drysdale Street with approximately 612 square metres featuring a substantial character residence boasting five bedrooms and multiple living areas, offered with vacant possession; and 4 Drysdale Street, covering roughly 546 square metres currently occupied by an established medical facility with a short-term lease, presenting immediate income and potential for lease extension.
- Combined land area of 1,158 sqm across two titles
- Prominent 27.1-metre frontage optimising development flexibility
- Favourable zoning promoting high-density residential projects
- Close proximity to Glenferrie Road’s retail and dining precinct
- Positioned within Cabrini Health precinct enhancing medical-related uses
- Excellent public transport accessibility
- Surrounded by premium residential amenity, schools, and parklands
This offering is well suited to developers and investors looking to capitalize on an increasingly scarce inner-urban land parcel with both immediate holding income and future development potential. The combination of land size, location, and zoning creates a compelling proposition for high-density residential projects or purposes compatible with the health/medical precinct.
Local Market Insights
In Malvern, Quiet Listings observed 9 new houses entering the market over the last 30 days, down from 15 during the previous 30-day period, with an average advertised asking price of $3,686,111. The property type mix of listed properties is predominantly Apartments at 48%, followed by houses (43%), and land (5%). The most active agency for houses in the Malvern area is currently Jellis Craig, representing 33% of new listings, followed by Marshall White with 22%. 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.
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Location
Market Insights for Malvern VIC 3144
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