Set on a prime 1,012m² block in the heart of Cleveland, this property represents one of the most compelling development or investment opportunities on the market today.
With its exceptional location, dual living potential, and strong growth fundamentals, 105 Passage Street is ideal for builders, developers, and savvy investors looking to capitalise on Cleveland's rising demand.
Key Investment Highlights
• Rare 1,012m² Block - Flat, Usable, and Zoned for Growth, no character or hertiage overlays
A large, level site in one of Cleveland's most sought-after pockets. Perfect for redevelopment, subdivision, or multi-dwelling construction (subject to council approval). Opportunities like this are becoming increasingly scarce in this established Bayside market.
• High-Demand Location
Located just minutes from Cleveland CBD, major shopping, quality schools, train and bus transport, and the waterfront. This address offers strong tenant appeal, resale potential, and long-term capital growth.
• Existing Home with Dual Living Scope
The current 3-bedroom, 1-bathroom residence offers solid rental income while you progress plans or approvals. Downstairs provides dual living potential - ideal for holding income or additional yield while awaiting development commencement.
• Surrounded by Ongoing Development
A well-established street experiencing consistent redevelopment and gentrification, ensuring future resale strength and increased local land values.
• Outstanding Holding Income Potential
Rent out immediately or enhance the dwelling for improved cash flow while landbanking. The flat terrain and wide frontage allow for low-cost future construction.
• Unlimited Upside for Builders and Developers
Whether you're considering a luxury dual-occupancy project, boutique townhomes, or subdivision, this block offers the flexibility and proportions to maximise ROI (STCA).
Why Investors Will Love It
• Landbank now in one of Redland's strongest performing growth corridors
• Low vacancy rates and ongoing buyer demand for Cleveland homes
• Excellent access to infrastructure, schools, retail, and lifestyle amenities
• Clear redevelopment potential with strong supporting precedent nearby
Location Snapshot
• 1.5 km to Cleveland CBD and train station
• 850m to Cleveland District State High School
• 1km to Raby Bay Harbour dining precinct
• 1.5km to Cleveland Point and foreshore parks
The Bottom Line
This is a blue-chip development site in a high-demand pocket of the Redlands - offering immediate holding income, exceptional future upside, and flexible exit strategies.
Opportunities of this scale and quality are increasingly rare. Secure your foothold in Cleveland's thriving property market today.
Contact John Dixon | RE/MAX on Point
0433 000 260
for full details, site information, or to arrange a private inspection.
Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies, or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.
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