10 Olive Road, Falcon WA 6210

Oversized mixed-use zoned block | Council-approved commercial plans | Coastal Falcon precinct | Immediate construction ready This property presents a rare, turnkey development opportunity on an oversized block within an established coastal suburb. Its fully approved plans for medical, chemist, and café uses eliminate significant pre-construction risk and delay, positioning it uniquely for a buyer seeking immediate income-producing development. The substantial 20-metre frontage on a primary road provides high visibility and access, ideally serving an owner-occupier seeking to establish a practice or an investor-developer capitalising on Falcon’s amenity proximity. Proceed only with capital reserved for commercial construction and tenancy fit-out, as the premium price reflects the approved status and land size, not intrinsic land value. The commercial logic rests on executing the approved plans to capture rental yield from multiple tenancies, with the mixed-use zoning offering operational flexibility. This is a strategic land bank play for a hands-on buyer; passive investors should avoid, as the value is entirely unrealised without development. The property last sold in March 2024, with a prior listing period beginning October 2023. This recent transaction, following several months on market, suggests the current premium asking price requires the specific utility of the approved plans to be justified. For a buyer, this history underscores that value here is contingent on executing the development, not on land speculation alone.