1301/188 Macaulay Road, North Melbourne VIC 3051
1301/188 Macaulay Road, North Melbourne VIC 3051
Large-format 4-bed apartment | 6-car parking is exceptional | Arden Gardens premium amenity | City-view living with school zoning
This is a genuinely rare apartment for North Melbourne. At roughly 300 square metres with four bedrooms, three bathrooms and six car spaces, it sits well above the typical inner-city unit stock, which is mostly one and two bedroom configurations. The size alone shifts it into a different category, closer to a penthouse or a combined residence than a standard apartment. The building’s amenity package, including cinema rooms, a rooftop garden, a gym and an integrated retail precinct with Woolworths, adds a layer of convenience that is hard to replicate in older blocks. The zoning for North Melbourne Primary and University High also broadens its appeal beyond professionals to families who want the lock-and-leave lifestyle without compromising on school catchment. This property serves buyers who need space, parking and amenity in a city-fringe location, and who are willing to pay for a product that has no direct equivalent in the immediate market.
The value picture may be shaped by a few factors. The six-car allocation is a standout, but it also hints at a property that could appeal to a niche buyer, which might narrow the pool and extend the time needed to achieve a premium price. The floor level is not confirmed, and while city views are advertised, the quality of that outlook could vary depending on the actual position within the building. The property’s size and finish suggest strong long-term demand from families or executives, but the strata context means value is tied to building performance and common area maintenance rather than land. Buyers should weigh the ongoing body corporate costs against the convenience and amenity, and consider how the upcoming Arden Station and surrounding development might influence future desirability.
|| Comparable Sales: 1309/188 Macaulay Road sold around $525k–$660k for 2-bed; 1-bed in Arden Gardens sold $420k in 2025 | Property Price Band: $1.6M–$1.7M | Value Drivers: size and layout rarity, parking allocation, building amenity and city outlook
Detailed Independent Property Report prepared by PropCred Analyst team for 1301/188 Macaulay Road, North Melbourne VIC 3051
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
North Melbourne is an inner-city market anchored by CBD proximity and established transport links. Demand comes from young professionals and returning international students, with first-home buyers in the more attainable unit segment. House prices have slipped, with a $1.28 million median and annual growth of -2.4%, while units rose 8.3% to a $520,000 median. Tight supply and low vacancy underpin rentals; unit yields run 6.6% versus 3.2% for houses. Future growth hinges on gentrification and constrained listings, though affordability pressures and a 17.5–18% rise in new listings are near-term risks.
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PropCred Estimated Value
Comparable Sales: 1309/188 Macaulay Road sold around $525k–$660k for 2-bed; 1-bed in Arden Gardens sold $420k in 2025 | Property Price Band: $1.6M–$1.7M | Value Drivers: size and layout rarity, parking allocation, building amenity and city outlook
Bedrooms
4
Bathroom
3
Parking
6
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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