Rare Bayside Holding – Development Upside + Secure Income

Di Petta Group proudly presents a rare 505sqm bayside landholding* in the heart of Mentone. Currently returning $74,375 p.a. holding income, this prime dual-frontage site offers exceptional 3-4 storey development potential (STCA) — a true blue-chip opportunity not to be missed.

Marvellous Mentone Opportunity – Prime Development Site with Holding Income

For Sale

Di Petta Group presents a rare and versatile opportunity combining secure holding income with exceptional development potential (STCA) in one of Melbourne’s most tightly held bayside locations.

Key Highlights:

* Expansive 505sqm landholding* with dual frontage to Mentone Parade + rear council car park
* Activity Centre Zoning (ACZ2): supports 3-4 storey mixed-use developments (STCA)
* Underutilised site (<40% coverage*) – prime development canvas
* Existing improvements: two retail shops (160sqm)* generating $74,375 p.a. + GST*
* Flexible lease profile – new leases commencing 2025 (Butcher & Tobacco Shop)
* Surrounded by premium amenity: Coles, Woolworths, Chemist Warehouse, Aus Post, major banks & eateries
* Opposite Kilbreda College + close to Mentone Grammar, St Bede’s & Mentone Girls Grammar
* Excellent connectivity – Mentone Station, Nepean Hwy, Balcombe Rd & Warrigal Rd

Development Potential
With strong precedent set by nearby projects, this site is ideally suited for:

* Boutique apartments or townhouses
* Mixed-use retail + residential
* Medical / allied health facility
* Childcare, community or aged care

Activity Centre Zoning encourages density, diversity and design excellence — making this an outstanding opportunity to create something iconic.

Investment Snapshot:

* Total Rent: $74,375 p.a. + GST
* Tenants: Butcher & Tobacco Shop (longstanding businesses)
* Site Coverage: Less than 40%*
* All written offers presented

Why Mentone?

Mentone blends coastal charm with urban convenience, making it one of Melbourne’s most desirable bayside hubs. With elite schools, major infrastructure upgrades, and a thriving retail strip, Mentone continues to attract families, professionals, and downsizers — ensuring strong demand for residential and commercial development.

This is more than a property — it’s a legacy opportunity. Secure a strategic bayside landholding with both income today and development upside tomorrow.


For any further information or onsite inspection, please contact the exclusively listed agents At Di Petta Group.

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