Prime toolern psp site – da approved 128-lot development with $8m~ embedded value

The phone enquiry code for this property is – 2419

A rare, DA-approved residential development opportunity in the heart of Melbourne’s booming western growth corridor.

Set across approximately 30 acres within the highly sought-after Toolern PSP, this premium Rockbank site comes ready with approvals in place for 128 residential lots, offering an average lot size of approximately 394sqm.

Significant value has already been unlocked. A 3.6-acre private school site has been sold, while approximately $4 million in development works have been completed. Engineering and structural works are 65–75% complete allowing an incoming purchaser to fast-track delivery with reduced risk.

The project also benefits from approximately 6 acres allocated to VicRoads, with an anticipated reimbursement of $4.5–$5 million, materially improving feasibility and overall returns.

Perfectly positioned just 30 minutes from Melbourne CBD, the site is 150 metres from a shopping centre, 1 km from the local town centre, 1.5 km from a major town centre, and 3.9 km from Cobblebank Train Station, ensuring strong future demand from owner-occupiers and investors.

The effective land cost is significantly reduced once the sold school component and VicRoads reimbursement are factored in, making this an outstanding opportunity to secure high-growth residential project in one of Melbourne’s most in-demand development precincts.

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