251 Blackburn Road

Mount Waverley VIC 3149

860 m²

Block of units

Currently for sale - view listing

Overview

ONE OF THE LAST MAJOR C1Z DEVELOPMENT OPPORTUNITIES IN MOUNT WAVERLEY

Expressions of Interest Income-Producing Landholding with Significant Future Potential A scarce opportunity to secure a prime Commercial 1 Zone (C1Z) landholding in the heart of Mount Waverley's tightly held Syndal precinct, just 200 metres from Syndal Station. Set on an island site of approx. 860 m², this property combines genuine holding income today with significant redevelopment upside tomorrow. Currently improved with multiple suites returning a gross income of $141,599 p.a., all leases contain demolition clauses, providing the incoming purchaser with income security while retaining full flexibility to redevelop when ready. Key Highlights Land Area: 860 m² * island site Zoning: Commercial 1 Zone (C1Z) flexible for retail, medical, office, mixed-use, or apartments (STCA) Concept Plans: Preliminary designs show scope for 24 to 30 apartments plus café/retail - 5 storeys with 6th floor explored Location: Prominent Blackburn Road frontage only 200 m from Syndal Station and close to High Street Road, The Glen, Wesley College, and Monash University Clayton No restrictive overlays simple, clean planning profile The Opportunity Developers: Ideal for a mid-scale apartment or mixed-use project benefiting from transport connectivity and planning support for greater height and density around station precincts. Medical / Health Operators: Outstanding exposure for a multi-practitioner medical centre or specialist hub. Private Investors / Land Bankers: Rare C1Z holding with secure income and significant long-term growth potential. 251 Blackburn Road represents one of the final large-scale C1Z sites in Mount Waverley, offering the perfect balance of income, flexibility, and future development potential. It's the definition of "income today, redevelopment tomorrow" a property that helps pay for itself while you plan for the future. DISCLAMER All income figures are provided as an estimate only and are based on information supplied by the vendor and current leasing assumptions. They do not constitute a representation or warranty as to future income. Interested parties should rely on their own enquiries, inspections, and due diligence prior to making any offer. Approximate only. All STCA.