44 Woodbine Grove, Chelsea VIC 3196

Large landholding | 2-bedroom house | redevelopment potential | premium bayside Chelsea This property’s competitive strength lies in its land size of approximately 980 square metres on a 20.3-metre frontage, which is rare for Chelsea and positions it well above typical housing stock. For a buyer, the modest existing dwelling means value is driven by the site itself, making it suitable for renovation, knockdown-rebuild, or long-term land banking. It serves best those seeking a development opportunity or a large family block in a sought-after bayside suburb, where proximity to beach, train, and village amenities adds enduring demand. The primary risk is the price guide of $1.2 to $1.3 million, which reflects land value rather than the house’s condition, meaning the existing structure may require significant investment or demolition. This cost is offset by the site’s redevelopment potential and Chelsea’s strong market, but buyers should budget for holding costs and planning approvals. The property is best held as a long-term landholding or redeveloped into a higher-value dwelling, with the land’s scarcity underpinning its appeal.