49 Wallum Road, Banksia Grove WA 6031

Vacant R30 land | 2578sqm | adjacent to school and park | development yield upside This parcel is competitively rare for its combination of size and immediate adjacency to a secondary college and parkland, which directly supports a higher-density townhouse configuration under R30 zoning. The absence of bushfire, flood, or heritage overlays reduces approval friction, while the suburb’s strong population growth and undersupply of new dwellings underpin demand for the finished product. It suits a developer or investor seeking a straightforward subdivision play in a growth corridor, with the new primary school adding long-term rental appeal. The key risk is the compressed offer timeline with no due diligence clauses, meaning buyers must front-load feasibility work or accept higher uncertainty. The estimated end value of $1.14–$1.3 million sits below the high $1 million asking, so margin depends on achieving at least eight lots and controlling construction costs. Opportunities lie in leveraging the school catchment for family-oriented townhouses and holding for capital growth as infrastructure completes. Use this as a build-and-hold or staged subdivision within a two-year window.