17 Princes Ave

Drouin VIC 3818

3.43 ac.

House

Currently for sale - view listing

Overview

5 Lots Now, 35 in the Future – or Stage Your Development and Do Both

An outstanding development opportunity in an exceptional Drouin location, 17 Princes Avenue offers developers and investors something increasingly difficult to find – an approved subdivision ready to progress today, together with exciting potential for a substantially larger residential development in the future. Comprising approximately 1.39 hectares (3.43 acres) in total, including the existing front lots, this significant property is positioned within an established and rapidly growing residential pocket of Drouin, conveniently located close to the town centre, train station, schools, shops and everyday amenities. The opportunity here isn't simply a choice between five lots or 35. There are three potential pathways. Proceed with the existing approved 5-lot subdivision and take advantage of the planning work already completed. Think bigger and investigate the existing concept plans illustrating the potential for a residential development of approximately 35 dwellings, subject to council and relevant authority approval. Or take a staged approach – progress the approved 5-lot subdivision now while simultaneously pursuing planning approval for the potential balance of approximately 30 dwellings, allowing you to move forward with the current approval while working towards unlocking the site's longer-term development potential. 5 now, 35 later, or stage the project and potentially achieve both – the choice is yours. Adding further value is the existing three-bedroom home, providing the opportunity to generate rental income while subdivision works, permits, designs or future development applications are being finalised. With substantial land, an existing planning approval, further development concepts already prepared and residential development continuing throughout the surrounding area, 17 Princes Avenue presents an opportunity with genuine flexibility. Whether your strategy is to develop now, pursue the larger concept, stage the development over time or hold the property while preparing your next move, this is a site that gives you options from day one. Secure the site. Choose your strategy. Unlock the potential. The 5-lot subdivision is subject to the conditions of the existing planning approval. The 35-dwelling concept and any proposed staged or further development are indicative only and remain subject to council and all relevant authority approvals. Purchasers should undertake their own due diligence regarding the property's development potential, land area, permits and approvals.