873 Dandenong Road

Positioned on one of Malvern East's most prominent thoroughfares, 873 Dandenong Road presents a rare, permit-approved development opportunity with immediate income and long-term flexibility. The property benefits from endorsed plans and permits for an eight-level apartment building, featuring commercial space at ground level and whole-floor apartments on each upper level. The scheme has been thoughtfully designed to comply with NDIS SDA High Physical Support, while retaining the flexibility to operate as conventional residential apartments, broadening both investor appeal and exit strategies. Significant progress has already been achieved, including: Endorsed plans and planning permits Completion of detailed technical documentation A sourced and vetted builder, ready to commence A head lease secured with one of Victoria's largest SDA providers, providing a strong foundation for future income certainty Adding to the project's strength, the building is currently operating as short-term student accommodation, delivering holding income while the next phase of development is planned. The location is second to none. Surrounded by established high-density student accommodation and residential developments, the site sits just footsteps from Caulfield Train Station, multiple tram routes, Caulfield Village, and local retail strips. Iconic landmarks including Caulfield Racecourse and Monash University (Caulfield Campus) further underpin sustained demand from students, professionals, and specialist accommodation providers alike. This is a compelling opportunity to acquire a de-risked, permit-approved project in a tightly held inner-south-east location, offering multiple income pathways, strong fundamentals, and genuine development upside.