1/3 Gillman Street, Cheltenham VIC 3192

1/3 Gillman Street, Cheltenham VIC 3192
Modern 3-bed 2-bath 2-car townhouse | as-new build | Mentone Girls zone | beachside of the highway This townhouse sits in a configuration that is increasingly rare for Cheltenham: a genuinely modern, low-maintenance floorplan with three bedrooms, two bathrooms, and secure parking for two cars, all within a 132-square-metre footprint that feels spacious rather than compact. Its position beachside of the highway places it firmly in the suburb’s most sought-after pocket, directly zoned for Mentone Girls Secondary College and Cheltenham Primary School – a combination that drives strong owner-occupier demand among families and downsizers alike. The unit is best suited to buyers who want the lifestyle and school access of a premium bayside address without the upkeep of a detached house. Value may be shaped by the fact that this is a relatively new townhouse built as part of a small complex, meaning it carries limits on land and potential for further improvement – a trade-off buyers should weigh against the convenience and finish. The absence of an aspect or defined outdoor dimension suggests the rear may be modest, which could temper appeal for those seeking generous private open space. Its school zone and modern specification are likely to support pricing, but similar units in the immediate area may set the benchmark more than suburb-wide trends alone.
Detailed Independent Property Report prepared  by PropCred Analyst team for 1/3 Gillman Street, Cheltenham VIC 3192
Checks found:
Value Risk ! 1
Liquidity Risk
Planning Risk
Income Risk 2
Execution Risk ! 1
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Insight: Cheltenham VIC 3192

Cheltenham presents as a well-established bayside suburb with solid fundamentals, driven by its proximity to beaches, shopping, and transport links. Demand is diverse, supported by healthy rental growth and strong auction clearance rates, indicating sustained interest from both owner-occupiers and investors. Recent price trends for houses show moderate growth, while the unit market is more varied. Key future drivers include its enduring locational appeal, though high house prices present an affordability constraint, and sales volume trends suggest a measured market tempo.
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PropCred Estimated Value

Bedrooms

3

Bathroom

2

Parking

2

Land

175m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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