30 Melville Parade, South Perth WA 6151

1970s terrace | 494m² land in South Perth | Flood & heritage overlays | 2 bed, 1 bath This property presents a rare opportunity to secure a low-density townhouse on a substantial land parcel within a central suburb, a configuration increasingly scarce in the market. Its 494m² allotment provides tangible future value through land banking potential or redevelopment flexibility, subject to heritage constraints. The two-bedroom format best suits an investor targeting the established rental market or an occupier seeking a low-maintenance footprint with space advantages atypical for the typology. The heritage and flood overlays introduce material constraints, directly impacting renovation scope, insurance costs, and future development feasibility. These statutory limitations demand specialised due diligence, effectively discounting the property’s utility for a conventional renovator. Acquire this for its land banking attributes within a high-amenity location, hold it as a long-term investment benefiting from land value appreciation, and accept that its highest utility is realised by a buyer with the expertise to navigate its regulatory complexities.