1/162 Glen Iris Road Glen Iris VIC 3146

Heritage overlay limits redevelopment | Price guide well above independent estimate | Short market exposure with auction soon | 563m² villa in a multi-dwelling site The discrepancy between the vendor’s price guide and the independent estimate introduces a material risk; a buyer faces overpaying by roughly one million dollars if they align with the listed range. This property sits within a heritage overlay on a 563m² lot that is part of a larger site, which restricts structural changes and future subdivision, reducing its redevelopment logic. A buyer should approach this as a pure home purchase, not a development play, and let the independent value anchor their maximum bid. What is strong here is the villa’s 4-bedroom layout on a single level in a high owner-occupier suburb with good school catchments, which supports stable family demand. The heritage overlay protects the character but also protects the buyer’s long-term value from overbuilding in the immediate area. This property suits an end-user family who values location and space over renovation upside and who will bid conservatively, using the independent estimate as a ceiling. To proceed, request the section 32 and engage a building inspector early; the heritage overlay means council conditions are non-negotiable.