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310 Russell Street, Buninyong VIC 3357

$450,000

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$450k - $473k Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 2 Cars 713 m² 713 m²

Listed: 14 hours ago

Overview

This property at 310 Russell Street in the historic township of Buninyong offers a unique blank canvas for renovators, builders, and developers seeking valuable potential in a well-established locale. Positioned on a substantial 713 square metres (approx.) allotment, the site features dual street frontages to both Russell and Elizabeth Streets, creating appealing possibilities for subdivision subject to council approval. This capability could allow for two separate residences, each enjoying its own independent access, thus broadening options for future use or investment.

The existing dwelling requires a full renovation, presenting an opportunity to restore and modernize while respecting the character and charm the area is known for. Alternatively, the property offers scope to demolish and undertake a complete rebuild or redevelopment, accommodating contemporary lifestyle needs and design preferences.

The Township zoning supports a range of residential possibilities, making this property suitable for a diverse range of buyers who relish the challenge and reward of crafting a home or development tailored to their vision. Its convenient location, close to local schools, shops, and transport links, enhances its appeal for families, investors, or professionals seeking a versatile site.

Key features include:

Generous 713m² approx. allotment providing ample space and flexibility
Rare dual street frontages enhancing subdivision and development potential (STCA)
Full renovation required, ideal for those with vision to unlock hidden value
Opportunity to renovate, rebuild, or redevelop subject to council approval
Close proximity to Buninyong's amenities, schools, and transport options

This offering is a genuine opportunity to acquire a property with significant future prospects in the heart of Buninyong, ideal for those looking to create tailored living environments or capitalise on the potential for subdivision. Thoughtful planning and creativity will allow the new owner to realise substantial rewards in this sought-after locale.

Local Market Insights

In Buninyong, Quiet Listings observed 4 new houses entering the market over the last 30 days, down from 5 during the previous 30-day period, with an average advertised asking price of $1,161,250. The property type mix of listed properties is predominantly Houses at 80%, followed by units (20%). The most active agency for houses in the Buninyong area is currently McGrath Estate Agents, representing 50% of new listings, followed by Ray White with 25%. 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.