FOR SALE
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1551 Northern Highway
Kilmore VIC 3764

Bedrooms: 3
Bathrooms: 2
Car spaces: 4
Land area: 2.63ha
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Exceptional Development Opportunity in the Heart of Kilmore

Inwest Real Estate is proud to present an extraordinary development opportunity in the heart of Kilmore. We invite all investors and developers to secure this unique and highly sought-after property at 1551 Northern Highway and 26-30 Mill Road Kilmore.
This prime real estate offers 6.5 acres of land with excellent exposure. The property includes a future roadmap for additional access from Curry Road, with plans already underway for the unmade Curry Road from the southern edge of the property (refer to the planning map online).
Following the recent council rezoning of Kilmore's south-east growth precinct from the farming and rural living zones to a growth residential zone, Kilmore is poised to become the next major growth area.
Development Potential:
Concept Plan : Potential future subdivision into Minimum half-acre lots (STCA) once the sewerage is connected to the property, which is expected in the near future (refer to the VPA). plus building envelop concept plan.
The property is strategically located across from approved major residential and commercial developments, including a retail hub, kindergarten, government primary school, and sporting grounds. These developments will significantly enhance the value of this prime location.
Additional highlights include:
A house in each property, both to be demolished.
17-18 lots (STCA) lodged in the council for permit approval, with each lot estimated to be half an acre. Sales of half-acre lots in the area are circa $600-$700 K.
Feasibility calculations suggest a Gross Realization Value (GRV) of $11,900,000.00 based on $700 K per lot, with major costs involved including roads, sewerage works, and engineering works (approx. $2 million).
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Property Details for 1551 Northern Hwy, Kilmore

Building Type
Rural
Land Size
2.63ha

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About Kilmore 3764

The size of Kilmore is approximately 58 square kilometres. It has 21 parks covering nearly 2.7% of total area. The population of Kilmore in 2011 was 6,677 people. By 2016 the population was 7,972 showing a population growth of 19.4% in the area during that time. The predominant age group in Kilmore is 10-19 years. Households in Kilmore are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Kilmore work in a trades occupation. In 2011, 74.8% of the homes in Kilmore were owner-occupied compared with 72.1% in 2016.

Kilmore has 5,296 properties. Over the last 5 years, Houses in Kilmore have seen a 34.85% increase in median value, while Units have seen a 28.65% increase. As at 31 October 2024:

  • The median value for Houses in Kilmore is $656,291 while the median value for Units is $405,221.
  • Houses have a median rent of $460 while Units have a median rent of $380.
There are currently 61 properties listed for sale, and 7 properties listed for rent in Kilmore on OnTheHouse. According to CoreLogic's data, 230 properties were sold in the past 12 months in Kilmore.

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