16 Berry Street, Coburg VIC 3058

Large landholding in Coburg | 15m+ frontage | tightly held brick residence | development optionality This property’s primary buying case rests on its uncommon 1,126m² lot with substantial street frontage in a predominantly owner-occupied pocket. The four-bedroom brick house itself is functional but secondary to the land position, which offers a buyer rare optionality—renovate immediately, hold for land-banking, or pursue subdivision subject to council approval. It is best suited to a family with medium-term horizon or a developer seeking a low-density infill site where comparable large lots are seldom offered. The single-owner tenure and absence of recent turnover suggest the holding cost basis is low, which reinforces pricing discipline at the top of the estimate range. The principal risk is that the current asking range sits above recent comparable sales and most automated valuations, meaning the buyer is paying a premium for optionality rather than proven yield. The Clifton Hill property with the same address is unrelated but can confuse initial desktop research. FTTP is not a prime driver here but supports future resale depth. The opportunity lies in negotiating a price closer to the $1.8m–$2.0m band where the land value alone justifies the entry, with the house providing immediate rental or owner-occupier utility while planning is explored. Hold for land appreciation and eventual subdivision or sell as a renovated family home when the market cycles upward.