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Overview
This property represents a rare and lucrative development opportunity nestled in the vibrant and highly sought-after area of West Footscray. Offering an expansive landholding of approximately 608 square metres, the site includes the foundational work and planning largely completed for three multi-level townhouses, allowing a buyer to capitalize on an immediate value-add by finishing the build-out.
The location enhances the appeal with convenient walking proximity to Tottenham Train Station and the Central West Shopping Centre, blending accessibility with a growing lifestyle precinct. In just minutes, residents can enjoy the famed Barkly Street retail and café strip, enhancing daily living with a lively community atmosphere and ample amenities.
Targeted towards builders, developers, or investors seeking a swift turnaround or a notable return on investment, the project is primed within a high-growth corridor that continues to demonstrate strong resale and rental yields. The establishment of three distinct townhouses on one site also opens the potential for diversified income streams or family accommodation options.
- Comprises three substantial townhouses awaiting finishing touches.
- Generous land size enables flexibility and ample layout footprints.
- Preliminary development milestones have been surpassed, reducing upfront effort for prospective purchasers.
- Located within a dynamic inner-west neighborhood underpinned by robust capital growth and rental demand.
Such a development offering is exceptionally rare in West Footscray, making this an enviable proposition for those ready to engage in a rewarding project.
Local Market Insights
In West Footscray, Quiet Listings observed 10 new townhouses entering the market over the last 30 days, down from 20 during the previous 30-day period, with an average advertised asking price of $817,500. The property type mix of listed properties is predominantly Houses at 46%, followed by units (19%), and townhouses (17%). The most active agency for townhouses in the West Footscray area is currently Jas Stephens Real Estate, representing 20% of new listings, followed by Woodards Real Estate with 20%. 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 |
|---|---|
| 3 TOWNHOUSE PROJECT $1,600,000 - $1,700,000 | |
| PRIME 3 TOWNHOUSE PROJECT $1,400,000 |
Location
Market Insights for West Footscray VIC 3012
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