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62 Magpie Street,
Mount Pleasant 3350, Victoria

4 bedrooms
2 bathrooms
2 car spaces
3,997m² land size
House

$925,000

Property Price Statement

Property details

Rare Development Opportunity in Prime Mount Pleasant Location!

Discover an exceptional investment and development prospect at 62 Magpie Street, Mount Pleasant. This is more than just a property; it's an opportunity strategically positioned in one of Ballarat's most sought-after areas.

This unique offering comes with the highly coveted advantage of an existing Planning Permit (extension granted and to be issued in Jan 2026) to build 6 additional residential dwellings on the substantial block, providing an immediate pathway to maximizing your return.

Development Ready: Skip the lengthy approval process! The hard work has been done, allowing you to commence development almost immediately and capitalize on the strong demand for housing in this prime locale. The vendor has applied for an extension on the permit and will be issued in January 2026.

Currently Rented: The property is currently rented on a periodic basis for $590pw.

Massive Income Potential: With planning permission for a total of 7 dwellings (the existing home plus 6 new units), this site offers significant scope for rental income generation or profitable unit sales upon completion.

The success of any development hinges on its location, and 62 Magpie Street delivers on every front. Situated in the heart of Mount Pleasant, residents will enjoy unparalleled lifestyle convenience:

Tourist Hub: Just a short stroll to the globally renowned Sovereign Hill, ensuring consistent interest from both residents and potential short-term rental markets.

Everyday Convenience: Enjoy the ease of walking to local shops and cafes, providing a vibrant community feel and essential amenities right on the doorstep.

Accessibility: Excellent access to public transport and major roads ensures easy connectivity to the Ballarat CBD, schools, and essential services.

Don't miss this chance to secure a strategic piece of real estate with approved plans for significant expansion. This is a highly desirable, blue-chip location that appeals equally to developers, builders, and investors seeking a ready-to-go project with a clear path to profit.

Act now to secure this premium development site!

*Plans and documentation available upon request.

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.

Explore the area

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School catchments

  • Mount Pleasant Primary School Primary Prep-6 Government 0.51km
  • Canadian Lead Primary School Primary Prep-6 Government 1.2km
  • Ballarat Primary School (Dana Street) Primary Prep-6 Government 1.7km
  • St Alipius' Parish School Primary Prep-6 Catholic 2.0km
  • St Patrick's School Primary Prep-6 Catholic 2.1km

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.

Find out how much home loan repayments will be

It’s important to understand repayment amounts before you apply for a home loan. A Loan Market broker can compare over 100 lenders to find the right loan for you. Use the Loan Market calculator to get a better indication of repayments.

Loan Market Pty Ltd | Australian Credit Licence 390222. All interest rates stated must include "p.a." and the relevant Comparison Rate in full.

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