358 Burwood Highway, Burwood VIC 3125

Large combined landholding | Student accommodation approved | Eastern suburbs tightly held | North-facing brick home This property’s primary strength is its scale and existing permit for student accommodation, a rare and valuable combination in Melbourne’s eastern suburbs. The substantial 1,639sqm parcel with development rights in place positions it uniquely for a developer or institutional buyer seeking a turn-key project, offering a significant time and approval risk advantage over assembling land and securing permits independently. For an owner-occupier, the large north-facing block presents a long-term holding with latent redevelopment potential, though the main dwelling is described only in basic terms. The decision hinges on capitalising on the permit before it lapses or requires renewal, as its value is contingent on acting within the approved framework. The 2023 resale without disclosed price suggests a motivated vendor, creating a negotiation opportunity. Acquire strictly as a development site; the existing houses hold negligible value beyond providing interim cash flow. The commercial logic is compelling only for a buyer with the capability to execute the approved project or to on-sell the entitled land at a premium.