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ONE OF THE LAST MAJOR C1Z DEVELOPMENT OPPORTUNITIES IN MOUNT WAVERLEY
​Cars 15
Income-Producing Landholding with Significant Future Potential
A scarce opportunity to secure a prime Commercial 1 Zone (C1Z) landholding in the heart of Mount Waverley’s tightly held Syndal precinct, just 200 metres from Syndal Station.
Set on an island site of approx. 860 m², this property combines genuine holding income today with significant redevelopment upside tomorrow.
Currently improved with multiple suites returning a gross income of $141,599 p.a., all leases contain demolition clauses, providing the incoming purchaser with income security while retaining full flexibility to redevelop when ready.
Key Highlights
Land Area: 860 m² * island site
Zoning: Commercial 1 Zone (C1Z) – flexible for retail, medical, office, mixed-use, or apartments (STCA)
Concept Plans: Preliminary designs show scope for 24 to 30 apartments plus café/retail - 5 storeys with 6th floor explored
Location: Prominent Blackburn Road frontage only 200 m from Syndal Station and close to High Street Road, The Glen, Wesley College, and Monash University Clayton
No restrictive overlays – simple, clean planning profile
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The Opportunity
Developers: Ideal for a mid-scale apartment or mixed-use project benefiting from transport connectivity and planning support for greater height and density around station precincts.
Medical / Health Operators: Outstanding exposure for a multi-practitioner medical centre or specialist hub.
Private Investors / Land Bankers: Rare C1Z holding with secure income and significant long-term growth potential.
251 Blackburn Road represents one of the final large-scale C1Z sites in Mount Waverley, offering the perfect balance of income, flexibility, and future development potential.
It’s the definition of “income today, redevelopment tomorrow” – a property that helps pay for itself while you plan for the future
