9 Leake Street Ascot WA 6104

Large block with stables | near Ascot Racecourse | double brick | tightly held pocket | zoned residential This property presents a rare, fixed-supply proposition: a large residential parcel with equestrian facilities directly adjacent to a major racecourse. Its double-brick construction on a substantial block in a tightly held pocket caters specifically to a horse-owning occupant or a home-based business operator, offering a utility that standard suburban stock cannot match. The decades-long holding period of the previous owner underscores the area’s low turnover and suggests underlying positional strength. The primary risk is the significant valuation gap between the asking price and automated estimates, which almost certainly reflects substantial deferred maintenance or outdated interiors given the 34-year ownership. This cost burden falls entirely to the buyer. The opportunity is to acquire a uniquely configured property below inferred land value, with commercial logic for value-add through renovation or direct use of the stables. Proceed only with a strategy to capitalise on its specific utility or to comprehensively modernise; it is not a passive investment. Our detailed report would pressure-test the renovation cost against the true market valuation and identify locality-specific risks for insurance and holding costs.