648 Warrigal Road Malvern East, VIC 3145

Set on a substantial 1,044sqm (approx.) landholding in the heart of Malvern East, this exceptional property presents a rare opportunity for occupiers, investors, and developers alike.

The site is rezoned to Residential Growth Zone (RGZ), with a previous permit for 16 apartments (predominantly circa 75sqm each, refer to attached built-up area schedule), and potential for increased yield subject to council approval. Townhouse development is also a viable alternative, offering flexibility across multiple development strategies.

Currently, the property includes an existing dwelling generating an approximate rental income of $470 per week, providing holding income while future plans are considered.

The existing home offers comfortable accommodation, featuring four bedrooms (including a flexible rumpus or retreat), a central family bathroom, a practical kitchen with ample storage, and a light-filled living and dining zone. While immediately liveable, the residence also presents clear renovation or value-add potential.

Outdoors, expansive front and rear gardens, a double garage, and additional off-street parking complement the generous proportions of the allotment.

The location is a standout:

• 400m to Holmesglen Train Station
• Directly opposite Harvey Norman, Officeworks and Coles
• 400m to Holmesglen TAFE
• 1.6km to Chadstone Shopping Centre
• Bus stop at the doorstep
• 700m to Monash Freeway access

Zoned for Malvern Valley Primary School and Ashwood High School, and surrounded by established amenities, this is a blue-chip address offering immediate returns, strong lifestyle appeal, and compelling long-term development upside.