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62 Magpie St

Mount Pleasant VIC 3350

4
2
2
3997 m²
House
Currently for sale - view listing

Overview

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.

Features

4 bedrooms
2 bathrooms
2 carspaces
2 garage spaces
3997 m² lot size
House

Property history for 62 Magpie St

2024
Rented
Undisclosed
Leased on 25 Oct 2024 by Buxton Ballarat
2020
Sold
Undisclosed
Private Sale/Treaty on 19 Nov 2020 by Richard Stacey, of PRD Ballarat
2017
Sold
$520,000
Private Sale/Treaty on 29 Aug 2017 by Richard Stacey, of PRD Ballarat

Happy sellers in Mount Pleasant

65%
65% of sellers in Mount Pleasant reported that their sale price either exceeded or met their price expectations.

Mount Pleasant stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 8 reviews in Mount Pleasant over the last 12 months.

Local market activity for 4 bedroom houses in Mount Pleasant

In the last 12 months, 13 four-bedroom houses similar to 62 Magpie St, have been sold.

This represents a 15% increase in four-bedroom houses sales when compared to the previous 12 months.

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