• Approx 467sqm GRZ1, north-facing frontage
• Three storeys permitted under the zone (STCA)
• Period dame let as an 11-room rooming house, income from day one
Approximately 467 square metres of bayside land with a north-facing frontage, zoned General Residential (Schedule 1), is the platform a developer needs for a three-storey, medium-density build in a postcode with proven demand for well-designed apartments. Schedule 1 zoning aligns with the medium-density direction Council and State policy are actively encouraging, and three storeys is the maximum permitted under the zone. Northern orientation lifts upper-floor sale prices, and the parcel size suits boutique product over volume.
What sits on the site today is a grand period dame currently configured as 11 rooms with two bathrooms and a kitchen, fully let as rooming accommodation. There's income from day one, allowing you to hold with purpose while plans are prepared, consultants engaged, approvals worked through and potential pre-sales lined up. The configuration runs efficiently in the meantime, with no immediate capital outlay required to keep the site productive.
Trams run past the doorstep into the St Kilda Road network, Balaclava Station provides the train commute, and the street itself stretches from the café and bar belt at one end down toward Acland Street, Barkly Street, the St Kilda Botanical Gardens and the beach at the other. Chapel Street, Fitzroy Street, Albert Park Lake and the CBD are all within easy reach. School catchments include Elwood College and St Kilda Primary with St Michael's Grammar and Caulfield Grammar nearby. The amenity is established, walkable and not dependent on future infrastructure to deliver value.
Hold and collect income, plan and build (STCA), or stage the process over time. The value here sits in the land, the orientation and the location, all working in the same direction. A site for a developer who wants to do something well, in a location that rewards exactly that.
All information provided, including floorplans, room dimensions, and land size, is indicative only and intended for general guidance. Belle Property does not guarantee the accuracy or completeness of any plans, illustrations, or representations shown in marketing materials. We recommend that all prospective buyers conduct their own research, seek independent advice, and confirm all details independently prior to making any property-related decisions. Belle Property accepts no responsibility for any discrepancies or misstatements.
