Positioned on the edge of Preston within one of Reservoir’s most exciting growth corridors, this exceptional opportunity comes with approved plans and permits to construct four contemporary 2-bedroom townhouses, each featuring a dedicated study nook – making it ideal for developers, astute investors, or buyers with a clear vision to capitalise on strong ongoing demand.Set on a generous 574sqm (approx.) allotment in the sought-after Residential Growth Zone 2 (RGZ2), the site currently accommodates a well-maintained brick veneer residence that delivers immediate holding income. The existing home comprises three spacious bedrooms, a central bathroom, a comfortable lounge, and an open-plan kitchen/meals area, and is currently leased at $750 per week, providing solid cash flow while planning future development.A wide side driveway offers excellent off-street parking and access to a substantial rear yard and garage, further enhancing the site’s flexibility for redevelopment or subdivision (STCA).The location truly underpins the value – just moments from Summerhill Shopping Centre, within easy reach of Plenty Road trams, and a short commute to La Trobe University, Northland Shopping Centre, local schools, and parklands. An outstanding opportunity to secure a prime development site with immediate rental return in a high-growth pocket.
Call: 0492 958 418
Mobile: 0492 958 418