109 Plenty Road, Bundoora VIC 3083

Large block on major road | Adjacent to expanding hospital | Zoned for development | High confidence rental yield | Primary school catchment. This property presents a compelling proposition based on its underlying land value and strategic positioning. The substantial 772m² block on a major arterial road, directly adjacent to a hospital undergoing expansion, offers a rare combination of development potential and rental stability. The zoning for both primary and secondary government schools anchors its appeal to families, while the high-confidence rental estimate signals established tenant demand. This configuration is strongest for a buyer with a longer-term horizon, either as a developer eyeing future medical or residential infill or as an investor capitalising on the secure yield from what is effectively a large house, with the land acting as a significant value reserve. The decision hinges on managing clear risks inherent in its positioning. Fronting Plenty Road introduces noise and potential amenity concerns that may cap capital growth for a standard residential holding. The lack of detailed data on building condition and the conflicting apartment listing in some sources require immediate due diligence to confirm the physical and title reality. The commercial logic is explicit: hold for land banking or pursue a development application in line with the noted potential, as the modest existing structure contributes little to the price. Proceed only if you are acquiring the land; the house itself is secondary. For a passive investor, the established rental stream and school zoning provide a floor, but the premium price demands you underwrite the future redevelopment option to justify the outlay.