11514 South Western Highway, Wokalup WA 6221

Renovator risk | 1944 structure | big block potential | price gap uncertainty | school zoning locked in The decision turns on whether you can absorb the cost of a full renovation on a 1944 shell. That era typically means single-brick construction, asbestos in wall cladding and roof sheeting, and outdated electricals. A proper refresh will run $150,000 to $250,000 before you see any equity gain. The upside is the 2,533m² block with side access—this is a rare holding, not a standard suburban lot. You hold this for the land, not the house. The property serves best as a long-term land bank in an area where subdivision potential or future zoning shifts could unlock value, but only if you have the cash flow to carry it while renovating gradually or leaving the structure as-is for now. What makes this competitive is the raw lot size and the school catchment. Wokalup is not a high-demand suburb, but blocks over 2,500m² with residential zoning and no overlay constraints are scarce in Harvey Council. The 337m² floor area gives you room to reconfigure without needing an extension, and the side access removes a common barrier for boat or caravan owners. This property suits a buyer who values land depth over move-in readiness—someone willing to negotiate hard on the current price gap between the two listing figures, because the higher ask of $699,000 is not supported by comparable sales in the immediate area. There are no directly comparable sales in this search to anchor value with precision, but the per-square-metre rate of $276 on the larger asking price sits above recent Wokalup land sales where similar sized blocks traded closer to $220 to $250 per metre. That gap means the property is priced for its future potential, not its current condition. A buyer who secures it near the lower end of the range enters with genuine equity upside after renovation. Your next step is twofold: commission a building and asbestos inspection on the 1944 fabric to quantify the capital required, then approach both listing agents—Barr & Standley and Elders Southern Districts—to clarify whether the lower $569,000 figure was the genuine instructed price or a marketing error. That single piece of data will determine whether this is a viable deal or a pass.