A rare and highly strategic opportunity in Prime Glen Waverley

Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.

151-153 Springvale Road, Glen Waverley VIC 3150

$2,850,000 - $3,100,000

Search Band Search Visibility Band

$2.85M - $2.99M Transparent Transparent Listing Based on an openly advertised listing price.

House 16 Beds 11 Baths 7 Cars 1417 m²

Listed: yesterday

Overview

This property presents an exceptional landholding opportunity in one of Glen Waverley's most coveted locations, with a substantial 1,417 square meters of prime land held on a single title. Its significant size offers remarkable flexibility for future development, whether for multiple residential units or a luxury home redevelopment, subject to council approval, appealing to developers and investors alike.

Located within the highly sought-after Glen Waverley Secondary College zone, the site benefits from consistent high demand driven by powerful educational appeal. The prominent positioning on a main road enhances visibility and accessibility, which, combined with the generous land size, adds considerable value and potential.

Meanwhile, the existing large, flexible improvements provide an immediate income stream, affording the opportunity to capitalize on the property whilst planning for its future transformation. This dual functionality makes it a compelling prospect for land bankers aiming to secure premium long-term upside alongside short-term returns.

Conveniently situated within walking distance to Glen Shopping Centre, the property enjoys access to a range of amenities and services, further enhancing its lifestyle value. Additionally, there is scope to convert the site to business uses such as a rooming house or medical centre, subject to approvals, expanding the range of potential redevelopment options.

Extensive land area of approximately 1,417sqm on one title
Located in the highly desirable Glen Waverley Secondary College catchment
Existing large-scale improvements enable immediate rental income
Significant redevelopment potential for multiple residences or a prestige home (STCA)
Close to major shopping precincts for convenience
Potential for business use adaptation enhancing investment flexibility

This property is an outstanding opportunity for astute investors, developers, and land bankers seeking a strategic entry into a stable and highly competitive market, combining immediate cash flow with significant future upside potential.

Local Market Insights

In Glen Waverley, Quiet Listings observed 75 new houses entering the market over the last 30 days, up from 57 during the previous 30-day period, with an average advertised asking price of $1,876,347. The property type mix of listed properties is predominantly Houses at 78%, followed by townhouses (12%), and units (4%). The most active agency for houses in the Glen Waverley area is currently Jellis Craig, representing 43% of new listings, followed by Ray White with 29%. 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.