604/360 St Kilda Road, Melbourne VIC 3004

**views threatened by future development | ageing building but prime location | buyers premium for botanic gardens aspect | long hold since 2000 means limited recent sales evidence** The primary risk here is the absence of recent comparable sales data; the property has been held for over two decades, making price discovery opaque. Without a clear market anchor, the buyer carries the burden of establishing value, particularly given the wide valuation spread. The commercial opportunity lies in the scarcity of apartments with direct botanic gardens views and generous internal space—these are genuinely rare features that historically outperform the broader market. If this property is being acquired for long-term hold rather than quick resale, the view and location provide reasonable downside protection, though the buyer must be comfortable that no recent transaction confirms current pricing. What makes this property competitively strong is the combination of a 94-square-metre internal footprint and a secured car space in a precinct where new supply increasingly delivers smaller units. For a buyer who values light, space, and immediate access to the gardens, this apartment offers a positional advantage that newer developments cannot replicate. It serves best someone seeking a liveable home with blue-chip address rather than a flip—an owner-occupier willing to pay for location and size over finishes. The smart next step is to request the owners corporation certificate for the last five years and commission a building inspection to assess any future capital works liabilities, as the age of the block is the primary variable the view cannot compensate for.