6 Spiers Place, Wanniassa ACT 2903

Large RZ2 block with development potential | Four bedrooms on 1196m² | Zoned for future subdivision | Close to schools and college This property presents a strong opportunity based on its underlying land value and configuration. The substantial 1196m² block in RZ2 zoning is its primary competitive strength, offering clear future development potential subject to approval, which is rare in established suburbs. The four-bedroom house serves as a solid holding position, with the established landscaping and covered outdoor area providing immediate utility. This property best serves a buyer with a medium-term view, either as a family home with an embedded land bank or for a strategic investor eyeing future subdivision. The central risk is the dated EER of 1.5, which signifies poor energy efficiency and will impose material ongoing costs through high utility bills, requiring a budget for upgrades. The 2017 sale price is irrelevant for current valuation, and the lack of recent comparable sales data necessitates a rigorous, independent valuation to establish true market price. Proceed only if the purchase price fully reflects the current cost to rectify the energy rating and if the development potential is financially viable after all approval costs. Our property report would pressure-test the commercial logic of the subdivision, detail locality-specific development risks, and provide a forensic current market valuation to secure your position. Nearby street sales indicate a varied price history: 1 Spiers Place sold for $680,000, 2 Spiers Place for $600,000, and 6 Spiers Place previously sold for $585,000 and $645,000 in 2017. This variance underscores the need for a current, property-specific valuation, as past sales reflect different market conditions and property states, making them unreliable direct comparables for your offer today.