62 Glynns Road, North Warrandyte VIC 3113

Development site, 1.24 acres, North Warrandyte | Bushfire overlay present | Family-held for 60 years, sold recently | School zoning, NBN and 5G This property offers a rare configuration edge in North Warrandyte: a full acre-plus development site that was held by one family for over six decades, meaning its subdivision potential has been untouched and its positioning within the local market is well understood. The recent sale price, aligned with Domain’s lower estimate, suggests the buyer secured it below the broader market’s valuation range—a strong entry point. For a developer or land banker, the key features are the 5,022 m² block, school zoning, and absence of flood or heritage overlays. This serves best a buyer who can hold through the planning process and who understands bushfire overlay constraints. The bushfire overlay is the primary risk; it will impose stricter building siting and material requirements, raising design and compliance costs. The buyer should budget for a longer approval timeline and potential vegetation management obligations. However, the overlay does not block development outright—it just adds a layer of cost and complexity. The rental income estimate of $620 per week provides a modest holding yield if the property is not developed immediately. For a buyer who can navigate the overlay and secure subdivision approval, the land’s scarcity in this location offers clear commercial logic. Hold and develop when planning is resolved.