1/88 Wells Street, Southbank VIC 3006

1/88 Wells Street, Southbank VIC 3006
1 bed, 1 bath, 1 car | 1995 garden complex | inner-city with parking | strong investor appeal This apartment offers a rare combination in Southbank: a genuine one-bedroom unit with a dedicated car space within a low-rise, garden-style complex from 1995. The building’s 90-lot scale and mature setting provide a quieter, less dense alternative to the high-rise towers that dominate the suburb. This configuration serves first-home buyers seeking an entry point with parking, downsizers wanting single-level convenience near the CBD, and investors targeting tenants who value outdoor space and security over flashy amenities. The presence of courtyards and balconies in similar units within the complex suggests this property may offer comparable liveability, making it competitive against newer but more compact stock. The building’s age and lack of confirmed internal finishes mean the unit’s condition will heavily influence its market position. A well-maintained or renovated interior could command a premium, while dated finishes may require a discount. The absence of typical tower amenities like a pool or gym may limit appeal to some tenants, but the car space and garden setting are strong compensating factors. Buyers should weigh the potential for higher ongoing maintenance in an older building against the benefit of lower body corporate fees compared to full-service towers. The recent sale evidence within the building indicates active demand, but price expectations should be grounded in the unit’s specific floor level, aspect, and renovation state.
Detailed Independent Property Report prepared  by PropCred Analyst team for 1/88 Wells Street, Southbank VIC 3006
Checks found:
Value Risk ✓
Liquidity Risk ✕ 2
Planning Risk ✓
Income Risk ✓
Execution Risk ✕ 2
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Market Insight

Southbank is a central Melbourne unit-dominated market with strong connectivity, where investor-driven demand for apartments underpins a stable rental environment. Recent price trends reflect a softening market with moderate sales velocity, indicating a period of price adjustment. Future growth is linked to its established infrastructure, though key risks include the potential for oversupply and sustained price sensitivity in the unit segment.
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PropCred Estimated Value

Bedrooms

1

Bathroom

1

Parking

1

Land

1.07 acres

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