Prime Malvern East Landholding with RGZ Zoning, Holding Income & Significant Development Upside

Set on a substantial 1,044sqm (approx.) landholding in the heart of Malvern East, this exceptional property presents a rare opportunity for occupiers, investors, and developers alike.

The site is rezoned to Residential Growth Zone (RGZ), with a previous permit for 16 apartments (predominantly circa 75sqm each, refer to attached built-up area schedule), and potential for increased yield subject to council approval. Townhouse development is also a viable alternative, offering flexibility across multiple development strategies.

Currently, the property includes an existing dwelling generating an approximate rental income of $470 per week, providing holding income while future plans are considered.

The existing home offers comfortable accommodation, featuring four bedrooms (including a flexible rumpus or retreat), a central family bathroom, a practical kitchen with ample storage, and a light-filled living and dining zone. While immediately liveable, the residence also presents clear renovation or value-add potential.

Outdoors, expansive front and rear gardens, a double garage, and additional off-street parking complement the generous proportions of the allotment.

The location is a standout:
• 400m to Holmesglen Train Station
• Directly opposite Harvey Norman, Officeworks and Coles
• 400m to Holmesglen TAFE
• 1.6km to Chadstone Shopping Centre
• Bus stop at the doorstep
• 700m to Monash Freeway access

Zoned for Malvern Valley Primary School and Ashwood High School, and surrounded by established amenities, this is a blue-chip address offering immediate returns, strong lifestyle appeal, and compelling long-term development upside.

All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.

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School catchments

Malvern Valley Primary School Primary Prep-6 Government 0.81km
Salesian College Chadstone Secondary 7-12 Catholic 0.95km
St Mary Magdalen’s School Primary Catholic 0.96km
Solway Primary School Primary Prep-6 Government 1.7km
Oakleigh Primary School Primary Prep-6 Government 1.7km
St Michael's School Primary Prep-6 Catholic 1.8km
De La Salle College - Holy Eucharist Campus Combined Catholic 1.9km
Murrumbeena Primary School Primary Prep-6 Government 1.9km
Ashburton Primary School Primary Prep-6 Government 2.0km
Oakleigh Grammar Combined Prep-12 Independent 2.0km
Ashwood High School Secondary 7-12 Government 2.0km
Mount Waverley Heights Primary School Primary Prep-6 Government 2.2km
Parkhill Primary School Primary Prep-6 Government 2.3km
Christ Our Holy Redeemer School Primary Prep-6 Catholic 2.3km
Sacred Heart School Primary Prep-6 Catholic 2.6km
Sacred Heart Girls' College Secondary 7-12 Catholic 2.6km
Essex Heights Primary School Primary Prep-6 Government 2.8km
Amsleigh Park Primary School Primary Prep-6 Government 2.8km
Emmaus College - Burwood Campus Combined Catholic 3.5km
Presbyterian Ladies' College Combined Prep-12 Independent 3.7km
Korowa Anglican Girls' School Combined Prep-12 Independent 3.7km
Caulfield Grammar School - Malvern Campus Combined Independent 3.7km
Avila College Secondary 7-12 Catholic 3.8km
Mount Waverley Secondary College Secondary 7-12 Government 3.8km
Mount Waverley Secondary College-Junior Campus Secondary Government 3.8km
Sacre Coeur Combined Prep-12 Catholic 3.9km
Huntingtower School Combined Prep-12 Independent 4.0km
Mount Scopus Memorial College Combined Prep-12 Independent 4.3km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.

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