3-5 Edmund Street, Normanville SA 5204

Large seaside lot with approved plans | 7 secure car spaces | 3-bed house for immediate income | <100m to village centre. This property presents a rare, dual-purpose opportunity in a tightly held coastal location, distinguished by its substantial 1.86-acre parcel with existing planning approval. The combination of a serviceable three-bedroom house, capable of generating lease or short-term rental income, alongside a premier development site within a two-minute walk of the foreshore, creates a compelling hedge. It serves the strategic buyer-either a developer seeking a staged project with holding income, or an investor intending to secure a long-term land bank while offsetting costs. The exceptional parking provision and high outlook further underscore its utility and future potential, positioning it well above typical suburban stock in both flexibility and scarcity. The primary decision point balances the approved development upside against the bushfire overlay constraint and the property's age, which necessitates future capital expenditure. The commercial logic is clear: the existing house funds the holding position, but its original 1980s condition means eventual replacement or significant refurbishment costs are factored into any development timeline. For a buyer, the judgment is straightforward-acquire this as a low-urgency development site with immediate income, not for its existing improvements. Its highest value is realised through future construction that capitalises on the elevation and frontage, making it unsuitable for a passive buy-and-hold investor seeking a turnkey home. Recent nearby sales provide context: a 1.01ha lot with a 125m² house sold for $850,000 after 46 days, and a 2608m² lot with a 154m² house sold for $889,000 after 121 days. This property's larger, approved lot and superior village proximity command a premium over these comparables, firmly anchoring its value in land, not building.