An opportunity not be missed! Sitting proudly on a generous green title block with prime Albany Highway exposure, this property is a rare find offering immediate income and outstanding future potential. Zoned Mixed Use R80, the site is perfectly positioned for development (STCA), to retain as is or to renovate!
Currently leased until May 2026, it provides secure holding income while you plan your next move. With its 1935 character build, high-traffic location, and flexible zoning, the options here are as exciting as they are profitable.
This property is ideal for buyers who appreciate its current value and the added benefit of secured tenants, with the promise of strong future returns. Its proximity to Curtin University ensures excellent rental demand as well as long-term growth potential.
Situated within walking distance of the vibrant Vic Park café strip, this location is truly a goldmine.
Zoning and Density Code
The subject site is zoned 'Mixed Use' with a density code of 'R80' under the Town of Victoria Park Local Planning Scheme No. 2 (LPS2), and 'Urban' under the Metropolitan Region Scheme.
Land Use Permissibility
The Zoning Table of LPS2 specifies the permissibility of a range of commercial and residential land uses within the Mixed Use zone. Copies of the LPS2 Text and Maps are available on the Town's website here: https://www.victoriapark.wa.gov.au/develop-and-build/planning/planning-policies- and-legislation/town-planning-scheme.aspx
Development Requirement
In relation to the residential development potential of the lot, the Residential Design Codes (R-Codes) stipulate that in an R80 coded area, land can be developed for the purpose of:
• single houses or grouped dwellings at a rate of one dwelling for every 120m2 of land area, with a minimum lot size of 100m2; or
• multiple dwelling development with an applicable 'plot ratio' of 1.0.
Single house and grouped dwelling developments are subject to the requirements of the R-Codes Volume 1 and multiple dwellings are subject to the requirements of the R-Codes Volume 2.
Any proposal for subdivision would need to be submitted to and approved by the Western Australian Planning Commission. Information on this process can be obtained from the Department of Planning, 140 William Street, Perth WA 6000 - Phone (08) 6551 9000 or website http://www.planning.wa.gov.au/.
Additional Site and Development Requirements
The site is located within the Town's 'East Victoria Park - Mixed Use Zone' which is subject to the following additional site and development requirements as specified under Clause 32 and Schedule C of LPS2:
Opportunities like this on Albany Highway don't come around often - whether you're an astute investor, developer, or landbanker, this property is pure gold.
Please contact us and we'll be happy to send through the full planning advice from Town Of Vic Park for your perusal.
Features and Rates (Estimated):
- House: |Total: 604sqm
- Frontage : 13.72m (As per deposited plan)
- Council: $1637pa | Water: $949pa
- Securely leased for $350 per week until 16/05/26. (Current rental appraisal is at $520pw)
- Orientation: Northeast
- Built: 1935
- Zoning: R80 Mixed Use
- Council: Town of Victoria Park
- School Catchments: Millen Primary School and Kent Street Senior High School
- Closest Private Schools: Ursula Frayne Catholic College Primary Campus, Trinity College and Wesley College
- Closest University- Curtin University about 4km away
Contact Exclusive Selling Agent Brian Anthony on 0430 631 349 or Brendon Habak on 0423 200 400 to arrange your inspection.
Disclaimer: Buyers are required to rely on their own research and complete due diligence prior to purchasing. All rates, sizes and distances are estimated and subject to change at all times without notice.
