1659 Princes Highway, Heywood VIC 3304

Large acreage near town | single bathroom limits appeal | priced below recent comparable sales | bushfire overlay requires consideration. This property presents a rare opportunity to secure a substantial semi-rural holding close to Heywood’s amenities, a configuration that is inherently scarce and typically commands a premium. The core value lies in the land parcel, which at approximately 5.7 hectares offers utility and privacy exceeding standard suburban lots, while remaining within reliable NBN and school catchment zones. This listing is strategically positioned for a buyer whose priority is land size over turnkey accommodation, serving either a lifestyle purchaser comfortable with a single-bathroom layout or an investor viewing the land as the primary appreciating component. The current price guide appears to acknowledge the compromised dwelling, creating an entry point not commonly seen for holdings of this scale in the area. The decision hinges on accepting the cost of modernisation against the benefit of secured land value. The principal risk is capital being consumed by the necessary bathroom addition and potential upgrades, which will not be recovered on a dollar-for-dollar basis in the immediate term. The commercial logic is clear: acquire the under-improved asset on a cost-per-hectare basis significantly below recent sales, then control the improvement timeline. Given the disparity between the agent’s guide and the indicative selling price, a buyer must enter with a firm budget for both purchase and improvement, viewing this as a long-term hold to realise the inherent land value. For a buyer prepared for that journey, it represents a calculated entry into the acreage market. Recent comparable sales demonstrate the property’s pricing context: – 17 May 2024: 6.07ha, 4 bed, 2 bath, 240m² building, sold for $1,065,000. – 28 Oct 2024: 6.35ha, 4 bed, 2 bath, sold for $575,000 after 150 days. These comparables, particularly the October sale, suggest this listing’s price reflects a material discount for its single-bathroom configuration and potentially inferior dwelling appeal. This establishes a credible value argument for a buyer willing to invest in rectifying these shortcomings.