23 Follett Road, Cheltenham, VIC 3192 | House for sale | OnTheHouse
 
FOR SALE
Private Sale $1,200,000-$1,300,000

23 Follett Road
Cheltenham VIC 3192

Bedrooms: 3
Bathrooms: 1
Car spaces: 2
Land area: 599m2
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Prime Corner Allotment with Development Potential in Cheltenham's Golden Triangle

Positioned on a desirable corner allotment in the highly sought-after Golden Triangle pocket of Cheltenham, this substantial landholding presents an outstanding opportunity for developers, builders and investors looking to secure a prime site with future potential.
Occupying approximately 599sqm (approx.), the property offers excellent flexibility for those considering a new home build, multi-dwelling development or long-term land banking opportunity (STCA). The prominent corner position enhances accessibility and design possibilities, making it particularly attractive for those looking to maximise the site's potential.
Adding further appeal for investors or future developers, the property is currently tenanted, allowing purchasers the option to retain the rental income while finalising plans and permits, creating a practical holding solution while preparing for the next stage.
The location further strengthens the opportunity. Directly opposite a small group of local shops, the property enjoys everyday convenience along with easy access to Cheltenham Train Station, Westfield Southland, local parks, schools and major road connections, placing it firmly within one of Cheltenham's most connected pockets.
Whether you are looking to build your dream home, explore development potential or secure a well-positioned investment with strong future upside, this is a compelling opportunity to capitalise on a corner site in a suburb that continues to grow in demand.
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*Every precaution has been taken to establish the accuracy of the above information but does not constitute any representation by the vendor or agent.
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Property Details for 23 Follett Rd, Cheltenham

23 Follett Rd, Cheltenham is a 3 bedroom, 1 bathroom House with 2 parking spaces. The property has a land size of 599m2. The place is currently for sale with Ray White Cheltenham.

Building Type
House
Land Size
599m2
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About Cheltenham 3192

The size of Cheltenham is approximately 10.6 square kilometres. There are 26 parks, covering nearly 19.1% of the total area. The population of Cheltenham in 2016 was 22291 people. By 2021 the population was 23992 showing a population growth of 7.6% in the area during that time. The predominant age group in Cheltenham is 30-39 years. Households in Cheltenham are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cheltenham work in a professional occupation.In 2021, 70.00% of the homes in Cheltenham were owner-occupied compared with 71.00% in 2016.

Cheltenham has 15,205 properties. Over the last 5 years, Houses in Cheltenham have seen a 0.77% increase in median value, while Units have seen a 2.26% increase. As at 30 June 2026:

  • The median value for Houses in Cheltenham is $1,248,865 while the median value for Units is $703,151.
  • Houses have a median rent of $750 while Units have a median rent of $600.
There are currently 60 properties listed for sale, and 33 properties listed for rent in Cheltenham on OnTheHouse. According to Cotality's data, 623 properties were sold in the past 12 months in Cheltenham.

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Angela Limanis
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Ray White Cheltenham
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