A unique waterfront property in Drummoyne, Sydney’s inner west, is currently up for grabs with a guide price of $6 million. Although the property, located at 378 Victoria Place, lacks habitable accommodation at present, it boasts luxury amenities such as a well-maintained in-ground swimming pool and a jetty suitable for a sizeable boat.
The home, which is partly demolished, is being marketed as a land-value opportunity, ripe for development. It is set to go to auction on April 12 through PRB Real Estate. According to agent Marcello Biviano, such a property—a blank canvas featuring an established pool and deep-water mooring—is rare on the market.
The location along the Parramatta River affords stunning views, particularly over the Gladesville Bridge Marina, and the surrounding impressive homes provide inspiration for prospective buyers. Work has already begun on removing the existing structure, making way for future enhancements.
Biviano notes diverse interest from buyers, including upsizers looking for waterfront living, downsizers keen on constructing a luxury residence, or even multigenerational families aiming to develop the site into two properties due to its R3 zoning, which allows for dual occupancy or the construction of townhouses, villas, and apartments.
Previously, approval was granted for apartment development, serving as a point of reference for interested parties. Biviano appreciates the tranquil blend of residential neighbours and marina adjacency, emphasising the potential of this sought-after location. With a 628-square-metre lot size and promising development prospects, he is eager to see the future transformation of this property.
For those interested in similar properties, options are also available in Drummoyne, including a two-bedroom apartment with marina views and amenities just steps from the river. Another offering showcases stunning views of the Sydney Harbour Bridge along with significant outdoor space, additional facilities such as a tennis court, and boat access.