Value-Packed Opportunity with Approved Plans for Three Townhouses

Set on a generous 652sqm (approx.) allotment and accompanied by approved plans and permits for two three-bedroom townhouses and one two-bedroom townhouse, this property presents an outstanding opportunity for developers, investors or buyers looking to secure a site with exciting future potential (STCA).

Offering immediate comfort alongside long-term possibilities, the existing home is a well-maintained two-bedroom, two-bathroom residence that provides a solid foundation while future plans take shape. Inside, the home is presented in excellent condition and features two light-filled bedrooms, two spacious bathrooms and a large open-plan living and dining area complemented by a generous family-sized kitchen. Outside, there is ample off-street parking along with a neat and tidy backyard, creating a comfortable and functional environment to enjoy in the meantime.

While the home is perfectly liveable as it stands, there is also scope for cosmetic updates to further enhance the current residence. Whether you choose to move in, lease out, renovate or proceed with the approved development, the flexibility here is a major advantage.

Positioned in a convenient and well-connected pocket of Reservoir, the location adds further appeal. The property is within walking distance of Keon Park Station, local bus services, JC Donath Reserve and the shops and cafés along Johnson Street, while also being just moments from local schools and offering easy access to the Metropolitan Ring Road for effortless commuting.

Surrounded by a neighbourhood that continues to evolve with new developments and modern homes, the true value of this property lies in both its present-day comfort and its exciting future prospects.

Whether you are a homeowner looking for a project, an investor seeking strong potential, or a developer ready to capitalise on approved plans, this is an opportunity not to be missed.

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

School catchments

William Ruthven Secondary College Secondary 7-12 Government 0.91km
William Ruthven Primary School Primary Prep-6 Government 0.93km
Maharishi School of the Age of Enlightenment Primary Prep-6 Independent 1.1km
Reservoir Views Primary School Primary Prep-6 Government 1.3km
Thomastown Primary School Primary Prep-6 Government 1.5km
St Stephen's School Primary Catholic 1.8km
Reservoir Primary School Primary Prep-6 Government 1.8km
St Monica's College - St Stephen’s/Gaudete Campus Secondary Catholic 1.8km
St Joseph the Worker School Primary Prep-6 Catholic 1.9km
Thomastown East Primary School Primary Prep-6 Government 2.0km
Thomastown Secondary College Secondary 7-12 Government 2.1km
Thomastown West Primary School Primary Prep-6 Government 2.2km
Thomastown Meadows Primary School Primary Prep-6 Government 2.4km
St Clare's School Primary Prep-6 Catholic 2.4km
St Gabriel's School Primary Prep-6 Catholic 2.6km
Norris Bank Primary School Primary Prep-6 Government 2.6km
St Luke's School Primary Prep-6 Catholic 2.7km
SEDA College (Victoria) - J.E Moore Park Campus Secondary Independent 2.8km
Reservoir East Primary School Primary Prep-6 Government 2.9km
Peter Lalor Secondary College Secondary 10-12 Government 3.1km
Lalor Secondary College Secondary 7-12 Government 3.1km
Reservoir High School-Heidelberg Secondary Teaching Unit Secondary Government 3.3km
Reservoir High School Secondary 7-12 Government 3.3km
Northside Christian College Combined Prep-12 Independent 3.6km
John Fawkner Secondary College Secondary 7-12 Government 3.7km
John Fawkner Secondary College-Sports Learning Centre Secondary Government 3.8km
Darul Ulum College of Victoria Combined Prep-12 Independent 3.9km
Lalor North Secondary College Secondary 7-12 Government 4.3km
Bundoora Secondary College Secondary 7-12 Government 4.4km
East Preston Islamic College Combined Prep-12 Independent 4.6km

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.