31 Enderby Street, Mawson ACT 2607

Large double block RZ2 zoning | Original dwellings present | Draft townhouse plans | Walk to primary & shops | High land tax if rented This property presents a rare dual-block development opportunity in an established, convenient location. Its RZ2 zoning and existing draft plans for six townhouses signal immediate potential for subdivision and densification, a key advantage in Mawson’s supply-constrained market. The level site with no overlays reduces holding risk. It best serves a buyer with capital and intent to develop, or an investor holding for land banking, given the current rental yield is secondary to the underlying land value. The primary cost is the annual holding outlay, with land tax notably high if not owner-occupied. The older existing dwellings offer negligible income for their scale, making a development or significant renovation timeline commercially critical. Proceed with an offer anchored in the land’s end-use value, not the current improvements. Our analysis can pressure-test the draft plans against council policy and provide a true residual land valuation, while identifying any latent site risks. A recent comparable sale at 2/11 Enderby Street achieved $1,865,000 in June 2025. This was a four-bedroom house, indicating strong buyer demand for larger properties in the immediate area. This sale supports the higher valuation range for the subject property, given its substantially larger land component and direct development potential.