10 Johnston Street, Moonah TAS 7009

Period home with dual-unit approvals | flat 759sqm block in Moonah growth corridor | 4 off-street car spaces | flood overlay but no heritage constraints The property’s primary value lies in its approved dual-occupancy development rights on a rare level block exceeding 750sqm in a suburb with 2.9% annual growth. For a developer or investor, this eliminates the typical 12-18 month approval risk and holding costs, while the existing period house offers immediate rental income or staged renovation. The 4 parking spaces and FTTP connectivity are practical advantages for future tenants, and the Moonah Primary School catchment adds family appeal. This best serves buyers seeking a turnkey development project with immediate cashflow potential or a landbanking opportunity in a corridor with strong rental yields near 4.8%. The flood overlay adds insurance cost and may limit some financing options, though the absence of bushfire or heritage constraints simplifies construction. The 79sqm floor area on the existing house is small relative to the block, meaning the redevelopment value significantly outweighs the current dwelling’s worth. The price per square metre at listing is above the estimated value, suggesting the approvals are being priced in – a buyer should negotiate based on the land value plus a discount for the holding costs during construction. Hold this property as a dual-income development or renovate the existing home while retaining the approvals for future subdivision.