213-215 Blackburn RoadMount Waverley VIC 3149
Property Details for 213-215 Blackburn Rd, Mount Waverley
Last Listing description (May 2026)
Rarely does an asset emerge with immediate returns with blue-chip development upside. Positioned in the heart of a thriving activity precinct, 213-215 Blackburn Road represents a premier acquisition for the astute investor and the strategic developer alike.
This significant 1,017 m landholding, zoned Commercial 1 (C1Z), is currently anchored by a high-performing premium hospitality tenant, delivering a robust net income with structured annual growth.
Investment Summary
Net Annual Income: $245,000 p.a. + GST as of October 2026
Built-in Growth: Fixed 3% annual rent increases
Secure Lease Structure: Term expiring October 2028 with further options
Low-Overhead Asset: Net lease with tenant paying all recoverable outgoings (excl. Land Tax)
Strategic Landholding: 1,017 m of prime Commercial 1 Zone (C1Z) land
Unrivalled Connectivity: 300m to Mount Waverley Station; 2km to The Glen Shopping Centre
Future Upside: Development clause embedded in the lease to facilitate long-term planning
For the Visionary Developer: Get Paid to Plan
Capitalise on the "land-bank" opportunity of the year. With a substantial passing income to offset holding costs, you have the breathing room to design and permit a landmark mixed-use project. The site's favourable zoning and proximity to transport support a high-density vision of 6+ levels (STCA).
Elite Tenant Covenant
The property is home to a renowned destination restaurant specialising in premium live seafood and Cantonese cuisine.
Proven Patronage: A destination venue attracting consistent foot traffic from across Melbourne.
High Exposure: A landmark street presence with excellent brand visibility.
Professional Operations: A long-standing, reputable business known for quality and reliability.
Private Sale
To request a comprehensive Information Memorandum or to arrange a private inspection, please contact the exclusive agents.
Will Jonas
0422 883 011
will.jonas@raywhite.com
Ryan Trickey
0400 380 438
ryan.trickey@raywhite.com
Property History for 213-215 Blackburn Rd, Mount Waverley, VIC 3149
- 07 Nov 2025Listed for Sale Price on Application
- 15 Jun 2023Sold for $4,092,000
- 14 Apr 2023Listed for Sale POA
Recent sales nearby
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About Mount Waverley 3149
The size of Mount Waverley is approximately 15.2 square kilometres. It has 41 parks covering nearly 11.6% of total area. The population of Mount Waverley in 2016 was 33611 people. By 2021 the population was 35340 showing a population growth of 5.1% in the area during that time. The predominant age group in Mount Waverley is 40-49 years. Households in Mount Waverley are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Mount Waverley work in a professional occupation.In 2021, 73.40% of the homes in Mount Waverley were owner-occupied compared with 74.20% in 2016.
Mount Waverley has 17,900 properties. Over the last 5 years, Houses in Mount Waverley have seen a 10.11% increase in median value, while Units have seen a 14.14% increase. As at 30 April 2026:
- The median value for Houses in Mount Waverley is $1,623,226 while the median value for Units is $1,110,542.
- Houses have a median rent of $730 while Units have a median rent of $700.
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