2/7 Ashby Court, Chadstone VIC 3148

Brand-new townhouse | 3-bed, 2-bath configuration | Quiet court location | Near Chadstone & schools This property presents a distinct, modern offering within a street predominantly composed of older, larger houses on substantial blocks. Its primary competitive strength lies in its configuration-three bedrooms with two bathrooms-which is rare for Ashby Court and caters directly to the premium end of the townhouse market, appealing to owner-occupiers seeking low-maintenance, contemporary living or investors targeting small families or professionals. Positioned in a quiet cul-de-sac with proximity to Chadstone Shopping Centre, reputable schools, and transport, it leverages a high-amenity location that supports both rental demand and capital growth, serving buyers who prioritise convenience and modern finishes over land size. The decision hinges on reconciling its premium apartment-style living against the street’s character and value drivers. The principal risk is its compressed land component of 213m², which fundamentally limits future expansion and places its value appreciation more heavily on building quality rather than land scarcity, a divergence from the typical house-centric sales in the area. This necessitates a purchase price firmly anchored to recent comparable house sales, which command a significant land premium. The opportunity exists in acquiring a scarce, turnkey product in a tightly held location, but it must be acquired at a logical discount to the superior land value of nearby houses. Acquire at the lower end of the quoted range if seeking a long-term hold with minimal upkeep; otherwise, the capital outlay is better directed towards a property with land equity in this market. Recent sales on Ashby Court provide critical context: – 2 Ashby Ct (3 bed, 1 bath, 706m² land) sold for $1,227,500 in July 2024. – 4 Ashby Ct (3 bed, 1 bath, land size not specified) sold for $1,132,500 in July 2017. – 8 Ashby Ct (5 bed, 3 bath) sold for $1,020,000 in October 2022. – Earlier sales range from $332,500 in 2005 to $774,000 in 2019 for larger houses. This data confirms the street commands strong prices for houses, with the latest sale setting a benchmark near $1.23 million for a three-bedroom house on a large block. The subject townhouse, while newer and with an extra bathroom, lacks equivalent land value. Its justified price should therefore sit meaningfully below the $1.23 million benchmark, reflecting its strata-like land entitlement. The asking range appears positioned to reflect its modern build, but buyers must rigorously discount for the absent land component.