27 Hallam Road, Hampton Park VIC 3976

Renovated 3-bedroom house on 802sqm | Approved permits for 3 townhomes | Dual rental or development use | Strong Hampton Park infill position The buying case here rests on the approved plans for three townhomes, which convert a standard 802sqm holding into a deliverable development site. This eliminates the typical 12-18 month approval risk and provides immediate value uplift for a buyer prepared to build. The renovated interior and dual bathroom configuration allow the existing house to be tenanted at a market rate during the planning or construction phase, offsetting holding costs. This property best suits a developer seeking a low-risk infill project or an investor wanting land-banking with immediate rental income. The primary risk is the validity and scope of the existing permits, which must be independently verified for sunset clauses, council conditions, and construction cost escalation. A buyer who cannot execute the townhouse plan within the permit timeframe loses the premium. The opportunity sits in executing the development quickly or selling the approved plans to a builder. For a long-term hold, the land size and zoning support future subdivision, but the current house should be leased to generate cash flow while the market matures.