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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.
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.
Due diligence checklist for home and residential property buyers.