493 Nepean Highway, Chelsea, VIC 3196 | Property Value & History | OnTheHouse
OFF MARKET

493 Nepean Highway
Chelsea VIC 3196

Bedrooms: 6
Bathrooms: 3
Car spaces: -
Land area: 1219m2
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Last updated 24 Aug 2026
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Property Details for 493 Nepean Hwy, Chelsea

493 Nepean Hwy, Chelsea is a 6 bedroom, 3 bathroom House. The property has a land size of 1219m2.

Building Type
House
Land Size
1219m2
Local Government
Kingston

Last Listing description (June 2026)

An outstanding development opportunity awaits at 493495 Nepean Highway, Chelsea. Positioned on a substantial 1,220 sqm landholding* with the rare advantage of three street frontages, this prime corner site offers exceptional flexibility for a range of development outcomes.

Perfectly suited for commercial, mixed-use, residential, or office development (STCA), the property presents significant potential in one of Melbourne's most sought-after bayside locations.

Potential development options include:

Up to 6 commercial tenancies and 6 residential apartments (STCA)
Alternatively, 12 luxury townhouses with the potential for stunning bay and water views (STCA)
Property Highlights
Generous land area of 1,220 sqm*
Rare triple street frontage providing outstanding design flexibility
31 metres frontage to Nepean Highway*
40 metres frontage to Chadwell Grove*
Just 150 metres from Chelsea Beach*
Existing income stream from two retail tenancies and one adjoining residential dwelling
Exceptional Lifestyle & Connectivity

Located in the heart of Chelsea's thriving bayside precinct, the property offers unparalleled convenience and lifestyle appeal. Residents and businesses will enjoy easy access to:

Chelsea Beach only 150 metres*
Bonbeach and Chelsea Railway Stations within 700 metres*
Chelsea Shopping Centre within 700 metres*
Patterson River Golf Club and Bicentennial Park approximately 1.5 km*
A wide range of schools, cafs, restaurants, retail outlets, medical facilities, public transport, gyms, parks, and everyday amenities all within walking distance.

Opportunities of this scale, location, and versatility are increasingly rare. Secure a landmark development site in a high-growth bayside location and unlock its full potential.

Approximate measurements. Subject to Council Approval (STCA).

Disclaimer: I acknowledge that this advertisement provides information as a guide only. Zed Real Estate does not verify the data and makes no claims regarding its accuracy. Buyers are to perform their own due diligence. Images and floor plans are to scale and created based on the photographer's best knowledge.

Property History for 493 Nepean Hwy, Chelsea, VIC 3196

A timeline of how this property has performed in the market
  • 12 Jun 2026
    Listed for Sale $2,388,888 - $2,627,776
  • 06 Jun 2022
    Listed for Sale $3,100,000 - $ 3,300,000
  • 23 Mar 2017
    Listed for Sale Not Disclosed
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About Chelsea 3196

The size of Chelsea is approximately 2.6 square kilometres. There are 6 parks, covering nearly 13.8% of the total area. The population of Chelsea in 2016 was 7773 people. By 2021 the population was 8347 showing a population growth of 7.4% in the area during that time. The predominant age group in Chelsea is 30-39 years. Households in Chelsea are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Chelsea work in a professional occupation.In 2021, 65.10% of the homes in Chelsea were owner-occupied compared with 63.20% in 2016.

Chelsea has 5,086 properties. Over the last 5 years, Houses in Chelsea have seen a -4.04% decrease in median value, while Units have seen a 6.10% increase. As at 31 July 2026:

  • The median value for Houses in Chelsea is $1,161,160 while the median value for Units is $734,277.
  • Houses have a median rent of $715 while Units have a median rent of $575.
There are currently 18 properties listed for sale, and 6 properties listed for rent in Chelsea on OnTheHouse. According to Cotality's data, 222 properties were sold in the past 12 months in Chelsea.

Suburb Insights for Chelsea 3196

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Cotality Copyright and Legal Disclaimers about Property Data
Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.