FOR SALE
$1,800,000 - $1,900,000

196-198 Albert Street
Reservoir VIC 3073

Bedrooms: 4
Bathrooms: 2
Car spaces: 2
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Existing Planning Permit for 10 Townhouses in a Most Sought-After Pocket

Ray White is pleased to present for sale 196-198 Albert Street Reservoir, a sprawling landholding within a tightly held precinct and boasting an existing planning permit for a first-class townhouse development.
• Recently approved treasured permit for a boutique luxury development in a highly sought-after area
• Perfectly positioned landholding of 1,220 sqm (approx) with 2 street frontages under 2 titles
• Reservoir is a high demand suburb with a soaring median house price (source REIV)
• 10 meticulously designed townhouses boasting predominantly 3-bedroom dwellings.
• Multiple living spaces and an abundance of private outdoor space for each townhouse
• Situated close to high demand suburbs of Preston & Heidelberg, each with soaring median house prices
• Moments to bustling retail at Preston Northland and lifestyle amenity within both Reservoir and Preston.
Easy access to the Preston, Reservoir trains, Trams & buses & Approx. 15 minutes to the CBD
• Easy access to the Reservoir East Primary School, Thornbury High School, Reservoir High School, and Reservoir Views Primary School. Band new Childcare centre right next door
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Property Details for 196-198 Albert St, Reservoir

196-198 Albert St, Reservoir is a 4 bedroom, 2 bathroom House with 2 parking spaces. The place is currently for sale with Ray White South Morang.

Building Type
House

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About Reservoir 3073

The size of Reservoir is approximately 18.9 square kilometres. It has 45 parks covering nearly 8.8% of total area. The population of Reservoir in 2011 was 47,636 people. By 2016 the population was 50,455 showing a population growth of 5.9% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation. In 2011, 62.5% of the homes in Reservoir were owner-occupied compared with 59.3% in 2016.

Reservoir has 28,263 properties. Over the last 5 years, Houses in Reservoir have seen a 23.05% increase in median value, while Units have seen a 21.24% increase. As at 31 August 2024:

  • The median value for Houses in Reservoir is $928,587 while the median value for Units is $602,189.
  • Houses have a median rent of $520 while Units have a median rent of $480.
There are currently 196 properties listed for sale, and 62 properties listed for rent in Reservoir on OnTheHouse. According to CoreLogic's data, 1043 properties were sold in the past 12 months in Reservoir.

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Chamara Adihetty
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Petar Djeparoski
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Ray White South Morang
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