12/104 Giles Street, Kingston ACT 2604

2-bed apartment Kingston | heritage overlay risk | 94sqm living | 5.5 star energy rating The heritage overlay introduces a specific risk: any future external alterations or renovations will require ACT Heritage approval, potentially delaying or capping value-adding opportunities. This property’s 94 square metres of internal living is below the suburb’s median for two-bedroom units, which typically exceed 100 square metres. The clear opportunity lies in the dual 16 and 23 square metre balconies, which effectively extend usable space by over 40 percent, a rare configuration that supports above-median rental returns. The judgment is: buy as a long-term hold with steady capital growth potential, not as a quick reno play. What is competitively strong is the north-west aspect and direct courtyard access from both bedrooms—this design appeals to owner-occupiers and downsizers who prioritise light and flow over sheer floor size. The priority enrolment at Telopea Park School and walkability to Kingston Foreshore make it a solid choice for a professional couple or a retiree seeking low-maintenance, high-amenity living. Comparables in this building show median resale at $680,000, aligning with the current listing; the 5.5 star energy rating supports lower holding costs, a subtle but consistent financial edge. Schedule a building inspection to confirm the heritage overlay’s specific restrictions, then proceed with an offer below list price to account for the constraint.