1 Mornane Street, Preston VIC 3072

Corner block in Preston south of Bell | 1955 character home with scope | Walk to High Street and reserves | Strong family and renovation demand The buying case for this property rests on its corner allotment and location south of Bell Street, a configuration that is increasingly rare in this pocket of Preston. The 334–335 m² land size, while modest, offers dual access and potential for future reconfiguration or extension, and the home’s high ceilings, polished floors, and open fireplace provide period character that appeals to owner-occupiers seeking immediate livability with renovation upside. This property is best suited to buyers who value walkability to High Street amenities, schools, and parks, and who are prepared to hold for medium-term value growth through incremental updates. The primary risk is the price guide, which sits above recent comparable sales in the area and may reflect vendor optimism rather than market evidence. The 1955 build, while well-maintained, will require attention to insulation, wiring, and possibly plumbing over time, and the single bathroom limits appeal to families. The opportunity lies in the corner block’s flexibility—adding a carport or studio, or reconfiguring the garden—and the strong rental demand in this corridor, which supports a hold strategy if the purchase price can be negotiated closer to the high $800,000s.