48 Savige Street, Campbell ACT 2612

910 m² RZ2 block | tightly held street | 60-year hold | Mount Ainslie outlook | scope to renovate This property presents a rare, substantial development canvas in a tightly held inner-north location, its value anchored by the 910 square metre RZ2 block. The long single-family ownership underscores the street’s character and scarcity. It best serves a buyer seeking a long-term foothold in Campbell, whether as a family home with future extension potential or a strategic land bank, given the proximity to the city, Russell offices, and local precincts. The primary cost is the dated condition, reflected in the one-star EER, requiring immediate capital for livability or a future rebuild. The substantial rates and potential land tax are material ongoing holding costs. However, the commercial logic is clear: secure a large, zonings-compliant block in a proven location where future intensification is possible. Acquire for land value with a view to a multi-decade hold, either through a phased renovation or a future redevelopment when feasible. The current price must reflect this significant future investment requirement. Recent sales on Savige Street itself are limited and opaque, with one contract noted in late 2024 and another sale at $1,885,000, though specifics are unclear. This lack of transparent, direct comparables on the street confirms its tightly held nature but complicates precise valuation. The listed price estimate aligns with the suburb median for a four-bedroom house, but does not fully capture the premium for this specific block’s size and zoning potential.