75 Napier Street, South Melbourne VIC 3205

Heritage overlay | large 2217sqm block | South Melbourne | expressions of interest closing 2 June The property’s primary advantage is its exceptionally large 2217sqm block in a tightly held heritage precinct, a rarity in South Melbourne. The 930sqm building footprint and 14m roof height suggest significant existing volume, though the 40sqm internal area figure appears inconsistent and should be verified. This configuration best suits a buyer seeking a substantial family home with space for future reconfiguration, or a developer willing to work within heritage constraints. The strong local market, with a 73% clearance rate and median price of $2m for three-bedroom houses, supports confident positioning. The heritage overlay is the critical risk, as it restricts external modifications and adds approval costs, which a buyer must factor into their budget and timeline. No flood or bushfire concerns reduce insurance complexity, and FTTP connectivity is a modest convenience. The opportunity lies in the block’s size and zoning flexibility,subject to council dialogue,for potential subdivision or extension. Hold this property as a long-term family residence or a patient development play, with the heritage overlay as the binding constraint.