11/28 Ireland Street, West Melbourne VIC 3003

Modern townhouse | CBD-edge enclave | boutique warehouse conversion | three-level house-like proportions This property occupies a rare position in West Melbourne: a three-bedroom townhouse with genuine house-like volume in a tightly held warehouse conversion, designed by JAM Architects. The top-floor master suite with walk-in robe and ensuite, plus two further bedrooms with built-in robes, gives it a family-capable layout uncommon in this fringe. The 157m² lot and private balcony off the open-plan living create indoor-outdoor flow that competes with much larger houses, while the secure garage with internal entry adds practical convenience. It suits owner-occupiers seeking space and light near the CBD, or investors targeting the strong rental demand in this precinct. The flood and heritage overlays are the primary constraints: they limit future alterations and may raise insurance costs or delay approvals for any extension. The adjacent four-storey apartment development at 11-17 Ireland Street, completing late 2025, will reduce privacy on that side and could temporarily affect amenity during construction. However, the building’s average owner-occupier tenure of over seven years signals a stable, low-turnover community, and the suburb’s -2% dip is shallow relative to its long-term tight supply. Rental yield around 3.8% is solid for the location. Hold this property as a long-term home or a low-maintenance rental in a CBD-adjacent pocket that historically recovers well.