24 Melbourne Street, St James WA 6102

Vacant R80 redevelopment block | 1012m² cleared | DA for 11 dwellings | 800m to Bentley Centre | sold Aug 2022 This is a genuinely uncommon offering for St James a cleared 1012m² lot with R80 zoning and a development approval for 11 multiple dwellings already in place. Most blocks in the suburb are smaller residential sites with established houses, so a site of this scale and density potential sits at the redevelopment end of the local stock. It suits developers land-bankers and investors targeting multi-dwelling yield rather than owner-occupiers looking for a finished home. The location is practical with Bentley Shopping Centre Welshpool Station and Curtin University all within a short distance, and major road access is easy. The value of this property is tied almost entirely to its redevelopment potential rather than immediate livability, so the existing DA and zoning are the key factors a buyer should weigh. The site sold in August 2022 which gives a recent transaction anchor, but without verified comparable sales nearby it is hard to benchmark the current market level precisely. Rental demand from the university and transport links may support the project, but the final return depends on construction costs and the timing of delivery. A buyer should verify the DA conditions and any council infrastructure contributions before forming a view on price.