25 Sheales Street, Dandenong VIC 3175

Approved plans bind you | Lot size varies 2% | Land price commands premium | 3-bedder yield risk The approved two-townhome plans lock you into a specific development cost and timeline, reducing flexibility. If construction costs rise 15% or council delays approvals for site inconsistencies (704–719m² recorded), your margin erodes before a shovel hits dirt. The land price sits near the top of its valuation range, absorbing upside upfront. This property works only if you build and sell within 12 months-holding as raw land costs you opportunity. Buy only with a fixed-price builder contract already negotiated. The competitive edge is the pre-approved permit, which cuts 6–9 months of council risk. Most vacant lots in Dandenong lack this, and the lot’s rectangular shape (not all 700m² sites are buildable) gives you higher density potential than standard 3-bedder infill. This suits a developer with a trusted builder or an investor aiming for duplex rental income in an area where 28% of residents are under 20-suggesting future family demand. The approved plans turn a raw block into a revenue-ready project; your next step is to verify the permit’s expiry date and order a soil test. Do not proceed without both. Recent comparable sales show 100 Keneally Street at $729,000 for land only, and 11 Garside Street at 585m², both smaller and unapproved. Your 719m² with permits justifies the premium-approximately $90,000 above raw land value-making the pricing defensible for a ready-to-build buyer.