Rare Bayside Holding Development Upside + Secure Income

2317

Di Petta Group proudly presents a rare 505sqm bayside landholding* in the heart of Mentone. Currently returning $74,375 p.a. holding income, this prime dual-frontage site offers exceptional 3-4 storey development potential (STCA) a true blue-chip opportunity not to be missed. Marvellous Mentone Opportunity Prime Development Site with Holding Income Expression of Interest Di Petta Group presents a rare and versatile opportunity combining secure holding income with exceptional development potential (STCA) in one of Melbournes most tightly held bayside locations. Key Highlights: * Expansive 505sqm landholding* with dual frontage to Mentone Parade + rear council car park * Activity Centre Zoning (ACZ2): supports 3-4 storey mixed-use developments (STCA) * Underutilised site (<40% coverage*) prime development canvas * Existing improvements: two retail shops (160sqm)* generating $74,375 p.a. + GST* * Flexible lease profile new leases commencing 2025 (Butcher & Tobacco Shop) * Surrounded by premium amenity: Coles, Woolworths, Chemist Warehouse, Aus Post, major banks & eateries * Opposite Kilbreda College + close to Mentone Grammar, St Bedes & Mentone Girls Grammar * Excellent connectivity Mentone Station, Nepean Hwy, Balcombe Rd & Warrigal Rd Development Potential With strong precedent set by nearby projects, this site is ideally suited for: * Boutique apartments or townhouses * Mixed-use retail + residential * Medical / allied health facility * Childcare, community or aged care Activity Centre Zoning encourages density, diversity and design excellence making this an outstanding opportunity to create something iconic. Investment Snapshot: * Total Rent: $74,375 p.a. + GST * Tenants: Butcher & Tobacco Shop (longstanding businesses) * Site Coverage: Less than 40%* * EOI Campaign: All written offers presented Why Mentone? Mentone blends coastal charm with urban convenience, making it one of Melbournes most desirable bayside hubs. With elite schools, major infrastructure upgrades, and a thriving retail strip, Mentone continues to attract families, professionals, and downsizers ensuring strong demand for residential and commercial development. This is more than a property its a legacy opportunity. Secure a strategic bayside landholding with both income today and development upside tomorrow. EOI Campaign: All written offers presented to the vendor For any further information or onsite inspection, please contact the exclusively listed agents At Di Petta Group. *Approximately