60 First Avenue Claremont WA 6010

Large land 745m² | R30 zoning potential | Top public school catchments | No overlays | Older 3-bed house This property presents a clear land value proposition, with its 745 square metre survey-strata lot being substantially larger than the typical 300-350 square metre blocks on the street. The R30 zoning permits medium-density redevelopment, offering a strategic option for future subdivision or rebuild, which is rare for a parcel of this size within the sought-after Mount Claremont Primary and Shenton College catchments. It serves a buyer seeking a long-term family home with embedded development optionality or an investor targeting land banking in a stable suburb. The primary risk is the older dwelling, which may require significant capital for renovation or removal to realise the land’s potential, costing both time and capital. The opportunity lies in securing a below-average density for the area, providing a commercial advantage for future intensification. Acquire this for its land bank attributes and hold with a view to future development or a substantial renovation. A Propcred report would quantify its real market valuation against comparable subdivision sales and detail locality-specific due diligence for a precise acquisition strategy. Recent sales on First Avenue indicate strong demand for three-bedroom houses. 69 First Avenue sold for $1.2 million on a 342m² block, while 34A First Avenue (342m²) also sold recently. This context suggests the subject property’s significantly larger 745m² landholding commands a substantial premium, with value driven by its scarcity and development potential rather than the existing dwelling.