Landmark Site with Plans, Permits & Potential

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284-286 Rossiter Road, Koo Wee Rup VIC 3981

$650,000

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$650k - $700k High Confidence Calculated based on strong search observations.

Land 869 m²

Listed: 36 days ago

Updated: 13 hours ago

Overview

This exceptional land/development parcel situated at 284-286 Rossiter Road, Koo Wee Rup, presents an extraordinary redevelopment prospect showcasing a landmark site known as the Old Wattle Theatre. Positioned in the prominent heart of the township, this significant site carries both historical value and bright future potential.

The existing structure, known locally and historically, is primarily beyond practical use and will require demolition. However, the iconic archway situated above the former stage is a protected piece, offering a unique heritage element to be preserved or incorporated within any future development, enriching the site’s distinctive character.

The property benefits from an approved set of plans and permits allowing for a mixed-use development integrating retail and residential spaces. This planned configuration unlocks versatile commercial and residential possibilities, making the site highly attractive for medical practitioners, office-based businesses, and retail ventures under the Commercial 1 zoning, which also accommodates residential options.

Land area totals a generous 869 square meters, providing ample space for a well-considered development footprint.
The frontage spans an expansive 12.72 meters, ensuring excellent visibility and street presence.
Access from a rear laneway offers convenient logistical options for deliveries and services, enhancing functional aspects of the site.

Such opportunities to secure a landmark redevelopment site with pre-existing approvals are scarce in the region. The property stands as a compelling proposition for developers and investors seeking to make a mark in Koo Wee Rup’s growing commercial landscape, combining heritage charm with modern development ambitions.

Prospective purchasers are encouraged to explore the myriad of possibilities this prime site affords and envision new life for one of the town’s most identified and iconic properties. The offering is inclusive of all offers, reflecting an open invitation to capitalize on this unique commercial and residential development potential.

Local Market Insights

In Koo Wee Rup, Quiet Listings observed 10 new parcels of land entering the market over the last 30 days, up from 7 during the previous 30-day period, with an average advertised asking price of $459,000. The property type mix of listed properties is predominantly Houses at 65%, followed by land (35%). The only agency with for land listings currently monitored in the Koo Wee Rup area is Ancora Property Group. 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.