4 Marathon Drive, Mount Eliza VIC 3930

Large vacant coastal lot | approved luxury plans | 300m to shoreline | exclusive Mount Eliza pocket This property presents a rare opportunity to acquire a substantial beachside parcel with approved plans for a luxury residence, placing the buyer in a strong negotiating position compared to sourcing raw land and navigating approvals independently. The 3,645m² lot is competitively positioned within a tightly held enclave where prestige homes and privacy dominate, making it most suitable for a buyer seeking a turnkey development pathway in a premium Mornington Peninsula location. The approved permits effectively de-risk the build timeline and remove a significant barrier for owner-occupiers or investors targeting high-end coastal living. The primary risk lies in verifying the current validity and transferability of the approved plans, as permits can lapse or require amendments if not acted upon promptly. There is also exposure to rising construction costs, which may erode the margin between the land price and eventual completed value. However, the large land size and beachside positioning offer strong underlying land value support, and the separate sale of 4A Marathon Drive for $3.2 million in June 2025 confirms robust local demand for premium holdings. The buyer should commission a full permit review and cost estimate before committing, but the combination of location, scale, and approval status gives this property a clear competitive edge over vacant lots without such entitlements.