54 Morton Street, Learmonth VIC 3352

Elevated 2.44 ha parcel | Township Zone with subdivision potential | Five-bedroom period house | Panoramic Ballarat views. This property offers a rare combination of lifestyle landholding and development optionality within a Township Zone, which is the core of its buying case. The elevated position on Bankin Hill provides commanding views that are difficult to replicate, and the 2.44 ha lot size gives a buyer immediate rural amenity while holding future subdivision potential subject to council approval. The five-bedroom period house with pressed metal ceilings and multiple living areas is functional for a family or as a weekend retreat, but the land and its zoning are the primary value drivers. It best suits a buyer who wants a lifestyle property now with the option to unlock land value later, or an investor looking to hold for medium-term zoning outcomes. The key risk is that subdivision approval is not guaranteed and may involve significant council negotiation and infrastructure costs, which reduces the property’s liquidity compared to a standard house. The single bathroom is a constraint for a five-bedroom home, limiting its appeal to large families or high-end renters without renovation. Opportunities lie in the property’s position within a market that has seen recent sales activity, suggesting demand for this type of offering. The buyer should treat this as a long-term hold with a view to either enjoy the lifestyle or pursue subdivision when the market and council conditions align.