149 Lockhart Street, Como WA 6152

Corner block | Canning Bridge Precinct | High-density zoning | Dual frontage | Original condition This property is bought for its zoning and position, not its house. The corner block with dual frontage within the Canning Bridge Precinct is a rare configuration that unlocks higher-density redevelopment potential most houses on the street lack. The 514 sqm land size and existing original dwelling mean a buyer acquires a clean slate with minimal demolition complexity. This suits an experienced developer or an investor with a medium-term horizon who can absorb planning timelines and carry costs. The location near Manning Primary School and Como Secondary College adds long-term appeal for future end-users, but the primary value is the site’s capacity to be reconfigured or subdivided under the precinct’s zoning framework. The main risk is that the asking price already prices in maximum redevelopment potential, leaving thin margin if planning constraints or heritage overlays limit yield. The existing house is uninhabitable without significant renovation, so holding costs are pure land carry with no rental income unless the dwelling is temporarily leased in its current state—unlikely given its condition. Buyers should confirm the exact zoning and any overlay restrictions before committing, as these directly affect what can be built and the timeline. The property suits a buyer who can hold for 18 to 24 months, execute a DA, and then either develop or onsell the approved site.