Positioned on the doorstep of the Melbourne CBD, this prominent corner in St Kilda East presents a rare chance to secure a genuine development site with scale, exposure and flexibility.
342 Dandenong Road has been thoughtfully subdivided, with the premium corner allotment now offered for sale—arguably the most valuable part of the holding. Spanning 626sqm, the site enjoys impressive dual frontages of 21.35 metres to Dandenong Road and 35.33 metres to Wando Grove, creating a highly usable footprint with strong street presence in two directions. Opportunities like this are becoming increasingly hard to find, particularly in established inner-city locations.
Zoned General Residential Zone – Schedule 1 (GRZ1), the property offers a flexible planning framework for future use (STCA). Adding real value, the site comes with pre-approved plans and permits for an apartment development, allowing buyers to move forward without the usual delays and uncertainty. Alternatively, the block provides a unique canvas to design and build a substantial inner-city home in a tightly held pocket.
The property is also subject to a heritage overlay, reflecting its place within the area’s historic streetscape. Dandenong Road remains one of Melbourne’s key arterial routes, long recognised as a major link to and from the CBD. This combination of character and potential will appeal to those looking to deliver a considered project or secure a standout landholding.
Location is a major drawcard. Surrounded by quality schools, public transport, lifestyle precincts and parklands, the site sits within a well-established residential area just moments from Chapel Street, Carlisle Street and easy CBD access. Demand for well-positioned land in amenity-rich locations like this continues to remain strong.
Opportunities of this nature—a high-exposure corner, flexible zoning, existing subdivision and pre-approved apartment plans—are increasingly limited. Whether you’re looking to develop immediately or create a bespoke home, this is a chance to secure a blue-chip site with genuine upside.
For further information, please contact
Jacques Khouri & Harrison Rudan of Lewin Real Estate.
