28 Hamilton Street, Bayswater WA 6053

Large 701m² block with subdivision approval | 1953-built house with expansion potential | Prime school proximity | No overlays simplifies development This property presents a clear opportunity based on its underlying land value and development flexibility. The subdivision approval for a 701 square metre block with rear access is its primary competitive strength, offering immediate optionality that is rare in established suburbs. It serves the strategic buyer—either an owner-occupier planning a future dual-income subdivision or a builder-developer—by providing a low-risk entry into a school-centric location without bushfire or heritage constraints. The older improvements are secondary to the land’s utility. Proceed with the understanding that its main risk is the market’s current appetite for subdivision projects, given the suburb’s recent auction clearance data. The commercial logic is to capitalise on the approval, either by executing the subdivision or holding the larger block as a scarcity premium. For a buyer, the judgment is to acquire it as a land bank with an existing rental yield, not for its current dwelling. A Propcred report would pressure-test the valuation against comparable subdivision sales and detail locality-specific due diligence for development feasibility. Recent comparable sales nearby indicate softer market conditions. – 30 Avenell Road, Bayswater: listed from $849,000 for 3 beds, 2 baths, 2 cars. This suggests the subject property’s premium is justified by its larger land size and subdivision potential, but it must be validated against recent sold prices, not just listings, to gauge true demand.