This sale is Subject to GST.
Proposed Preston (High Street) Activity Precinct. Opportunity for up to 6 storeys of development under the new plans (STCA).
A rare opportunity exists for the lucky purchaser to hit the ground running. Property comes with all town planning, environmental and survey plans.
If you've been searching for the perfectly located site with a permit C approved plans, look no further than this exciting opportunity that stands before you.
Acquire this increasingly sparse residential land in a location second to none only a 5min walk to Regent railway station and 19min walk from Reservoir railway station!
Excellent public transport facilities and a much sort after location provides exactly what you hoped to find on approx. 1,405sqm of flat, inviting land that has been cleared ready for construction.
A mix of townhouses all with an efficient contemporary design.
Close to Broadway shopping precinct, Regent railway Station, Reservoir railway Station, Plenty Rd trams, La Trobe and RMIT universities, Northland and Summerhill shopping centres and local parklands and reserves.
The size of Reservoir is approximately 18.9 square kilometres. It has 45 parks covering nearly 8.8% of total area. The population of Reservoir in 2016 was 50474 people. By 2021 the population was 51096 showing a population growth of 1.2% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation.In 2021, 59.90% of the homes in Reservoir were owner-occupied compared with 59.30% in 2016.
Reservoir has 28,942 properties. Over the last 5 years, Houses in Reservoir have seen a 19.99% increase in median value, while Units have seen a 15.48% increase. As at 30 November 2025:
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