204 Rachelle Road, Keilor East VIC 3033

Approved dual-residence permit | 593sqm General Residential | Family-demand corridor | Tightly held pocket The approved plans for two side-by-side residences are the primary competitive advantage here, effectively offering a buyer both immediate development optionality and a hedge against rising construction costs. The 593sqm landholding in a General Residential zone, combined with proximity to Penleigh & Essendon Grammar and Spring Gully Reserve, positions this property in a demand corridor where families and developers compete for the same limited supply. It best serves a buyer who can execute the existing permit or hold for medium-term land appreciation. The existing dwelling is tired, meaning a buyer must factor either renovation costs or demolition into their feasibility. The single car space is a constraint for a family home in this segment. However, the long holding period since 1991 suggests low basis and potential for significant capital growth upon redevelopment. The auction format may intensify competition between end users and developers, so a disciplined pre-auction strategy is advisable.