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205 & 207 Wakaden Street, Griffith NSW 2680

1000000

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$1.1M - $1.21M High Confidence Calculated based on strong search observations.

House 5 Beds 3 Baths 2 Cars 2200 m²

Listed: 2 days ago

Updated: 15 hours ago

Overview

This unique offering in central Griffith comprises two adjoining land titles totaling approximately 2,200 square metres, presenting an exceptional opportunity for developers, investors, or builders seeking a substantial and well-located landholding in a growing market.

The combined site is zoned R3 Medium Density Residential, supporting a variety of development possibilities. Presently, the property includes a neat, habitable three-bedroom home at 205 Wakaden Street, accompanied by bathroom and additional toilet facilities. This dwelling could generate potential rental income while plans for redevelopment or renovation progress. Meanwhile, 207 Wakaden Street consists of an uninhabitable structure, posing a renovation challenge or a blank canvas for redevelopment.

Strategically positioned with convenient access to the Griffith CBD, schools, clubs, and the medical precinct, the location enhances the appeal for future residents and tenants alike. Griffith City Council’s Housing Strategy 2025 projects a demand for thousands of new homes by 2046, emphasizing medium-density, diverse housing options. This landholding’s size and zoning align perfectly with these growth requirements, underpinning its long-term value.

Several conceptual residential development plans have been prepared, ranging from upscale family homes to a proposed 12-dwelling medium density project. This broad scope highlights the site's versatility, inviting prospective buyers to bring their vision to life, subject to council approvals.

Overall, the property offers a strategic investment through immediate rental returns, redevelopment potential, or secure land banking, catering to those with development ambitions or seeking a prominent foothold in Griffith’s expanding residential market.

Local Market Insights

In Griffith, Quiet Listings observed 21 new houses entering the market over the last 30 days, down from 24 during the previous 30-day period, with an average advertised asking price of $833,190. The property type mix of listed properties is predominantly Houses at 75%, followed by land (14%), and units (7%). The most active agency for houses in the Griffith area is currently Soul Property Agents, representing 38% of new listings, followed by Elders Real Estate 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.