115/55 Queens Road, Melbourne VIC 3004
115/55 Queens Road, Melbourne VIC 3004
2 bed 2 bath 1 car | Grosvenor on Queens 2008 | park-edge amenity living | strong rental profile | mid-tier building stock
This apartment holds a genuine competitive edge in Melbourne’s inner-city market because the two-bedroom, two-bathroom layout with secure parking is not the default format in this precinct. Many comparable units in the area settle for a single bathroom, so the extra one materially widens appeal for professional couples, sharers, and downsizers who value morning efficiency. The building itself, completed in 2008, offers a resort-style amenity set that includes an indoor heated pool, gym, and on-site management, which supports a hotel-like living experience rarely matched by older walk-up stock. Positioned opposite Albert Park with strong tram connectivity to the CBD, this unit suits buyers seeking low-maintenance living without sacrificing lifestyle proximity. It is best matched to an owner-occupier who wants convenience and comfort, or an investor targeting consistent rental demand from city workers.
The value picture may be shaped by the unit’s exact aspect and floor level, which are not confirmed from public records. Units facing the park or positioned higher typically command a noticeable premium, while those with street exposure to Queens Road might experience more traffic noise. The building’s 2008 construction means mechanical systems and common areas could require future levy contributions, though no specific issues are flagged. The 2/2/1 configuration should hold its position well against smaller formats in the same building, and the rental yield potential appears solid given the demonstrated demand for two-bedroom stock here. Buyers should weigh the internal finish quality and balcony usability when forming a price view, as these vary across lots.
|| Comparable Sales: 1203/55 Queens Road sold May 2024 at $540,000 for 2/1/1; 915/55 Queens Road sold October 2024 with price undisclosed | Property Price Band: $675,000–$725,000 | Value Drivers: extra bathroom, building amenities, park proximity, floor level and aspect
Detailed Independent Property Report prepared by PropCred Analyst team for 115/55 Queens Road, Melbourne VIC 3004
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
URL has been copied successfully!
Market Insight
Melbourne’s 3004 covers the CBD and inner city, a high-density unit and apartment market. Demand comes from upgrading professionals, first-home buyers, and returning international students, drawn by proximity to jobs, transport, and education. House median is $1,015,000, up 5.5% annually; unit median $642,431, up 2.7%. House sales are 17.8% above the five-year average, clearance rates 67% in October 2025, with a 1.4% vacancy rate and listed stock 21% below five-year norms. Growth is supported by easing rates, better affordability than Sydney, and positive interstate migration. Risks: stretched affordability, listings up 30% month-on-month and 18% year-on-year in October, and new listings 17.5% above last year, pointing to price moderation despite constrained supply.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 1203/55 Queens Road sold May 2024 at $540,000 for 2/1/1; 915/55 Queens Road sold October 2024 with price undisclosed | Property Price Band: $675,000–$725,000 | Value Drivers: extra bathroom, building amenities, park proximity, floor level and aspect
Bedrooms
2
Bathroom
2
Parking
1
Land
1.15 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!