1/499 Spencer Street, West Melbourne VIC 3003

Heritage-listed tri-level townhouse | Prime West Melbourne pocket | 219sqm land with balcony | Tightly held boutique block | Walk to everything This property offers a rare configuration in West Melbourne, a tri-level townhouse on 219sqm within a boutique block of four. The heritage character, separate entry, and private balcony provide a living experience distinct from standard apartments. It is best suited to owner-occupiers seeking spatial separation and historical fabric, particularly professionals or downsizers prioritising immediate access to the Queen Victoria Market precinct. The confirmed heritage overlay is the primary constraint, limiting external alterations and requiring approvals for structural changes. Given the building’s small scale, body corporate dynamics may be tightly managed. The absence of recent sales introduces valuation uncertainty, but the location and land component underpin residual value. For a buyer comfortable with period charm and its maintenance, this townhouse offers a defensible position in a tightly held pocket where supply constraints are firm