Renovate, Invest & Explore the Future Potential of a Character Classic
Positioned on an impressive 988m² block, this 1945-built, three-bedroom, one-bathroom character home presents far more than an opportunity to simply renovate. With its substantial landholding, R20 zoning and enviable location close to the Swan River, it offers buyers the chance to enjoy the property today while exploring a range of possibilities for future development and capital growth.
Period character is immediately evident, with a tuck-pointed brick façade leading to a distinctive coloured leadlight entry door. Inside, the home retains many of the architectural details associated with its era, including high ceilings, decorative cornices, architraves, picture rails and ceiling roses, complemented by generously proportioned bedrooms.
For those seeking an investment opportunity, the R20 zoning and approximately 988m² landholding provide scope to investigate subdivision, subject to the relevant approvals. The rear portion could potentially be separated and sold as its own lot, or the existing residence could be retained while exploring development at the rear.
Alternatively, there may be potential to consider a more substantial redevelopment of the site. Subject to planning requirements and approvals, the block could potentially be divided into two street-front lots of approximately 10m x 50m, creating the opportunity for two stylish new residences.
The property's position directly opposite Mount Lawley Hospital also introduces another avenue worth investigating. A prospective owner could explore with the relevant authorities whether a commercial rezoning or change of use may be achievable, potentially creating an opportunity to transform the property into a medical practice or professional consulting premises. Any such use or rezoning would, of course, be subject to council, planning and other statutory approvals.
Importantly, this is a substantial landholding in a tightly held and highly sought-after part of Mount Lawley, with the Swan River and Warndoolier Park (formerly Banks Reserve) precinct nearby, providing ample open space, gas BBQ facilities, a children's adventure playground, amphitheatre and basketball facilities, while the nearby riverfront connects to cycle paths leading towards Optus Stadium, Perth CBD and beyond.
For a buyer with a longer-term outlook, the lifestyle location is compelling, with combination of land, location, development potential and proximity to the river, all of which could provide an appealing platform for future capital growth, while allowing the property to be renovated and enjoyed in the meantime.
Constructed in brick and tile, the property offers an approximately 20.1m frontage and 50m depth, with ample space for parking and plenty of room to enjoy the existing home and grounds.
Only approximately 4.0km from the city, the property is also surrounded by a choice of respected public and private educational facilities, including Trinity College, Mercedes College, Perth College, Mount Lawley Senior High School and the new Edith Cowan University in the city.
Add the established shopping and café culture of Mount Lawley, convenient access to the city and a short walk to both the Mount Lawley and East Perth Train Stations, and this becomes an opportunity with multiple possibilities — renovate and enjoy, hold for the future, investigate subdivision, or explore an alternative development or professional-use proposition.
A substantial landholding in a premium location where the real value may ultimately lie in what you choose to do with it.
