Coff Property Greenlit for Elsternwick Townhouses

Luxury Melbourne developer Coff Property has secured planning approval for a $30-million townhouse development at Elsternwick, its second permit in quick succession.

The approval for the 10 double-level homes came five months after filing and follows work on its Chomley Terraces project at Prahran getting under way last month.

That development, worth around $46 million, won a planning permit in December 2024, seven months after filing. The builder is Balmain & Co.

The developer acquired the 1800sq m Elsternwick site at 25 Sandham Street late last year.

Cera Stribley has designed the Elsternwick homes, which will have private garages, advanced home security including number-plate recognition technology, internal lifts, large rooftop terraces with integrated greenery and city views, and three or four bedrooms plus study.

Coff Property managing director Adam Coff said the design responded to the neighbourhood’s heritage character.

“For Elsternwick, we worked closely with the council and our consultant team, led by Cera Stribley, to achieve a strong planning outcome,” Coff said.

The approvals come amid strengthening market conditions. Melbourne home prices rose 1.4 per cent in the September quarter and are up 3.51 per cent since January, according to the PropTrack Home Price Index.

Early sales at Chomley Terraces (pictured below) have shown strong market appetite for design-led townhouse product. A third of the 17-residence development has sold with transactions between $3 million and $4 million.

Coff Property will deliver the Elsternwick project as a joint venture with Monark, which manages $2 billion in funds. The partnership is the second collaboration between the two.

Coff Property’s pipeline also includes a five-storey mixed-use development at Abbotsford, which won approval in September 2024.