1809/259 Normanby Road, South Melbourne VIC 3205

1809/259 Normanby Road, South Melbourne VIC 3205
1 bed, 1 bath in R.Iconic | South Melbourne high-rise | Concierge-managed tower | Investor-grade inner-city demand | Price guide around $500,000–$535,000 This apartment is competitively positioned as a modern, low-maintenance unit in a recently completed managed tower, where the building’s concierge and access systems appeal strongly to professional singles, couples, and investors seeking proximity to the CBD and Southbank. The configuration is representative of newer high-rise stock in South Melbourne, offering contemporary amenity and stricter building management that typically supports steady rental demand from city workers. It is best suited for buyers prioritising location and convenience over landholding, with the price guide aligning with expectations for a one-bedroom unit in this precinct. The value of this property may be influenced by its exact floor level, aspect, and internal finish schedule, none of which are confirmed from available information, and these factors could meaningfully affect both desirability and price. A larger apartment in the same building sold at a significantly higher figure, but that does not directly inform this unit’s worth given the size difference. Buyers should weigh the managed building’s ongoing strata fees and the broader supply of similar apartments in the area when forming a view on price.
Detailed Independent Property Report prepared  by PropCred Analyst team for 1809/259 Normanby Road, South Melbourne VIC 3205
Checks found:
Value Risk 2
Liquidity Risk 2
Planning Risk 2
Income Risk 2
Execution Risk 2
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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

1

Bathroom

1

Parking

-

Land

1.89 acres

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