100 Island Road, Koo Wee Rup VIC 3981

Rare 42-acre parcel with house | Special Use Zone | bushfire and flood overlays | tightly held rural pocket This property presents a rare opportunity to secure a substantial 17-hectare holding in a tightly held location, a scale of land virtually absent from the typical suburban market. The Special Use Zone designation suggests future potential beyond standard residential use, catering specifically to a buyer seeking a lifestyle holding with commercial or development upside, subject to council planning. The partially renovated four-bedroom residence provides immediate utility, but the primary value lies in the land bank itself, serving a buyer profile comfortable with a longer-term horizon and the management requirements of a significant rural parcel. The decision hinges on navigating material constraints; the bushfire and flood overlays impose specific compliance costs and potential insurance complexities that directly impact holding expenses and future development feasibility. The low elevation of four metres substantiates the flood risk. The commercial logic rests on the scarcity of large acreage lots in the area and observed nearby development activity, suggesting latent demand for land of this scale. This property is a strategic land holding first and a residence second, suited to a buyer who can capitalise on its zoning and tolerate its environmental overlays. Recent sales in Koo Wee Rup context: * A standard 4-bedroom house on a 500m² block sold for $677,000 in early January 2026 after just seven days on market. * Vacant residential lots of similar size have transacted between $450,000 and $510,000. These figures underscore the premium for established homes on typical suburban lots, but provide no direct comparison for a 42-acre estate. The asking range of $3.02 to $3.32 million operates in a completely different market segment, valued for its land mass and zoning potential rather than its built improvement. This disconnect confirms the property’s unique positioning and that its value must be assessed on its own operational and future-use merits.