118 Moray Street, South Melbourne VIC 3205
118 Moray Street, South Melbourne VIC 3205
Mixed-use zoning | three-tenancy flexibility | rear lane parking | opposite major commercial anchor |
This property presents a rare configuration edge for a buyer seeking immediate income diversity and long-term development optionality. The combination of a caretaker residence, retail shop, and office within a single C2Z site allows for owner-occupation alongside rental income, or complete tenancy separation. Its position directly opposite the 101 Moray Street development anchors commercial foot traffic, while the 23.5-metre height limit creates a clear future uplift path. This suits an investor or developer who values holding a multi-use property in a tightening South Melbourne market, where similar mixed-use parcels are scarce.
The primary risk is the small land area—113 sqm—which limits redevelopment scale and may constrain exit options to boutique projects. The caretaker residence requires council approval for continued use, adding a planning dependency. However, the rear lane access and two car parks are rare for this street, improving tenant appeal. The NBN and 5G coverage support office leasing but are not decisive. The buyer should hold for steady rental yield from the retail and office components while monitoring zoning changes for a future six-storey development trigger.
Detailed Independent Property Report prepared by PropCred Analyst team for 118 Moray Street, South Melbourne VIC 3205
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
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Market Insight
South Melbourne is a tightly held inner-city suburb dominated by high-density living, attracting a broad buyer pool of owner-occupiers, downsizers, and investors. Demand is driven by its proximity to the CBD, education precincts, and lifestyle hubs, with a notable return of professionals and international students. The market is characterised by strong house price growth and a tight rental environment, though unit performance is more moderate. Future growth is underpinned by scarcity of quality stock and sustained migration, yet risks include a potential easing of pressure from rising listings and the inherent supply constraints of a mature locale.
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PropCred Estimated Value
Bedrooms
2
Bathroom
3
Parking
2
Land
113m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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