Real Estate

three templestowe homes face the wrecking ball to make way for major development

Written by The ReReport

These three homes at Yolande Court, Templestowe, could soon be knocked down to make way for an estate of 19 homes.

THREE Templestowe houses could soon face the wrecking ball to make way for a boutique housing estate.
After three neighbours teamed up to sell their Yolande Court properties to a developer earlier this year, the mega site is now back on the market with plans and permits for 19 new dwellings.

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The neighbours collected a windfall of almost $7.2 million in April when they sold their four-bedroom homes at numbers 6, 7 and 8 Yolande Court, according to CoreLogic. Now, the combined site of 7931sq m comes with plans for the boutique estate and an $8-$8.8 million price tag.

The mega site has plans and permits for seven houses and 12 townhouses.

Jellis Craig Doncaster director Andrew Keleher said despite the land’s zoning allowing for an apartment development, the plans in place feature seven houses and 12 townhouses.
“Rather than squeeze on 25-28 (units) the developer decided to go with high-end and larger than normal properties to keep with what’s in the area,” Mr Keleher said.
“The plans are really well thought out and designed, there’s definitely scale to build and make a few dollars profit.
“It’s ready for someone to get started straight away and take advantage of a great development.”

The properties are expected to fetch between $1.2-$1.5 million once built.

The houses are expected to each fetch $1.5 million once built, and the four-bedroom townhouses, $1.2 million each.
The dwellings will each sit on a 330-450sq m block.
Mr Keleher said first-home buyers and downsizers were likely to drive demand for the completed homes, in particular locals looking for something new and slightly smaller.
“These will be really well sought after due to the fact they are a little larger.
“It’s one of the rare big landholdings left in Templestowe.”

The three neighbours who sold their homes in April collected an almost $7.2 million windfall.

CoreLogic data shows 6 Yolande Court, which featured a tennis court and pool sold for $2,293,467 in April. No. 7, a four-bedroom house with a pool, fetched $2,129,129 and No. 8, a four-bedroom home with a tennis court, sold for $2,777,402.
The combined site is listed with Jellis Craig Doncaster in conjunction with CBRE.

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