535 Canterbury Road, Campsie NSW 2194

Corner R3 triplex approved | leased medical practice | 785m² near hospital & station | flood overlay This property presents a rare, turnkey development opportunity within a high-demand residential corridor. Its approved plans for a luxury triplex on a large corner block circumvent typical planning risk and time, offering immediate density uplift in a tightly held locale. The existing tenancy provides holding income while plans are finalized, best serving developers or investors seeking a strategic land bank with income offset. Its position within walking distance to major transport, healthcare, and retail infrastructure underpins both end-value and rental demand resilience. The primary risk is the flood overlay, which necessitates due diligence on construction costs and insurance premiums. The main road exposure may affect end-sale values for the fronting residence. The commercial logic is clear: execute the approved build to capture significant equity from three four-bedroom houses in a supply-constrained market. Acquire as a development play; the approved plans are the core value. Hold only if prepared to develop, as the land value fundamentally exceeds its current use.