505 Drummond Street SRedan VIC 3350
Property Details for 505 Drummond St S, Redan
505 Drummond St S, Redan is a 4 bedroom, 2 bathroom House with 6 parking spaces and was built in 1880. The property has a land size of 962m2 and floor size of 192m2. While the property is not currently for sale or for rent, it was last sold in May 2017.
Last Listing description (July 2017)
Close proximity to Ballarat CBD and a rare offering with full planning approval for a 2 lot subdivision (Planning Permit No PLP/2011/007)
This development comes with plans for a comprehensive renovation of the existing home and a complete set of plans for a 4 Bedroom Home of approx 26sq that can be constructed on the rear allotment. Alternatively renovate and extend the original home and convert the Large Shed into an income producing Modern Apartment.
This is a unique scenario where you can purchase now and enjoy the rental return of $385pw on a fixed term lease while you plan your building schedule. These are stable long term tenants happy to stay as long as they can.
The existing home has loads of potential and the prospect of a simple 2 lot subdivision will attract a host of potential buyers to this rapidly evolving location. These unique development opportunities are now more difficult to secure within close proximity of the City Centre.
Please contact Don Hanlon for a complete memorandum of information, sewer plans, technical drawings and access arrangements
Property History for 505 Drummond St S, Redan, VIC 3350
- 31 May 2017Sold for $365,000
- 04 Nov 2016Listed for Sale $385,000
- 03 Nov 2011Listed for Rent - Price not available
Recent sales nearby
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About Redan 3350
The size of Redan is approximately 2.2 square kilometres. It has 5 parks covering nearly 27.1% of total area. The population of Redan in 2016 was 2889 people. By 2021 the population was 3000 showing a population growth of 3.8% in the area during that time. The predominant age group in Redan is 20-29 years. Households in Redan are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Redan work in a professional occupation.In 2021, 49.90% of the homes in Redan were owner-occupied compared with 48.50% in 2016.
Redan has 2,046 properties. Over the last 5 years, Houses in Redan have seen a 36.92% increase in median value, while Units have seen a 32.01% increase. As at 30 November 2025:
- The median value for Houses in Redan is $497,799 while the median value for Units is $382,248.
- Houses have a median rent of $390 while Units have a median rent of $365.
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