44 Gilarth Street, Highett VIC 3190
44 Gilarth Street, Highett VIC 3190
Red-brick family home | 730m² development site | Approved townhouse plans | Highett location
This property presents a dual-opportunity as a liveable family home on a substantial lot with immediate development rights secured, a rare combination in this market. The approved permit for two designer townhouses grants a significant time and cost advantage, positioning it strongly for an owner-occupier seeking future optionality or a builder-developer seeking a streamlined project. Its high ceilings and classic layout offer comfortable interim occupancy, making it best suited for a strategic buyer capitalizing on land value.
The primary risk is the capital outlay for the existing house, which may not be reflected in its current condition, effectively paying a premium for the land and permit. The commercial logic is clear: the permit crystallizes the lot’s highest potential use. Execute the build to capture equity or hold the permit as a value hedge while occupying. This is a foundation property; its worth is in its permitted density, not its current finishes.
Independent, Unbiased Research from our PropCred Analyst teamÂ
Market Insight:
Highett’s established bayside positioning attracts families and professionals seeking connectivity and quality schools. Demand is driven by its proximity to beaches and employment hubs, with strong activity in the unit market. Recent price trends show stability in houses but notable divergence in unit performance. Future growth is anchored in its infrastructure and location, though high entry prices and interest rate sensitivity present clear affordability constraints.