Prime Redevelopment (STCA) or Investment Opportunity

449 Glenferrie Rd is an incomparable opportunity for the prospective homeowner, investor or developer offering tremendous potential to capitalise on the prime location, overlooking beautiful Kooyong Gardens on its northern boundary. The property occupies a prime locale high on the hill near the juncture of Malvern, Toorak, and Kooyong with sunlit views to the north that can never be impeded.

The building currently comprises of only 4 spacious, leafy, double storey inter-war brick apartments with potential to maximise views to capture the beautiful northern sun, east to the Dandenongs and west to the City. There are a range of possibilities with this 781sqm (approx) block including renovation, refurbishment, lease or redevelopment (STCA).

Presently the building across 2 levels consists of both a 2 bedroom and 3 bedroom apartment on the ground floor and a 2 bedroom and 3 bedroom apartment on the first floor. Each apartment has access to a garage and the property includes dual access via a laneway and ample off-street parking. Outside there is a useful mix of paved and green space in addition to a sunny rooftop terrace.

The value of this exclusive Kooyong property is accentuated by its location close to St Kevin’s College, Scotch College, Lauriston Girls’ School and St Catherine’s School all within walking distance. Public transport abounds straddling the Glenferrie and Toorak Rd tram lines, and Kooyong train station within 400m. Monash Freeway access is down the road.

The site falls under several overlays including the Development Contributions Plan Overlay (DCPO), Heritage Overlay HO180, and General Residential Zone Schedule 1 (GRZ1) potentially allowing for further medium density development (STCA).
According to the Stonnington Planning Scheme Amendments dated 27 September 2023 the property is considered non-contributory from a heritage perspective. More information can be found at the the attached link specifically pages 67 & 68.

We donate a portion of our fee from every property transaction to the Woodards Foundation to support people experiencing homelessness, family violence and social isolation.