208/555 St Kilda Road, Melbourne VIC 3004

North-facing balcony | Level 2 in Parque | Heritage overlay | Strong rental yield | Rooftop amenities This unit presents a competitively priced entry into a Fender Katsalidis-designed building with premium communal facilities, a rarity for this price point in the St Kilda Road precinct. Its north aspect and functional layout are core strengths, positioning it for stable tenant appeal, best serving an investor seeking yield with a lower entry cost or an owner-occupier valuing amenity over high-floor views. The primary risk is the heritage overlay, which may constrain future alterations and requires due diligence. The last sale was in 2013, creating valuation ambiguity against current asking prices. The commercial logic is clear: secure a well-appointed unit in a landmark building at a yield above suburb averages. Acquire for hold, leveraging its rental demand; the lack of recent comparable sales necessitates a conservative bid within the lower estimated range.