2416/628 Flinders Street, Docklands VIC 3008
2416/628 Flinders Street, Docklands VIC 3008
North-facing 2-bed | Timber floors and Miele kitchen | Resort-style amenities | City skyline views | Parking status unconfirmed
A north-facing outlook is combined with premium finishes in this two-bedroom apartment, giving it a stronger position within Docklands than many newer towers. Timber flooring, stone benchtops and Miele appliances are included, and the building’s amenities cover a lap pool, gym, sauna and concierge. The property is well placed for city professionals, downsizers and investors seeking low-maintenance living with direct access to trams, rail and the CBD. The city skyline views and natural light are considered rare in this price segment.
The lack of a confirmed car space may be seen as limiting for some buyers, and body corporate fees must be weighed against the amenity provided. Floor level and exact outlook may be expected to influence value more than the layout, as views are known to drive demand in this tower. Recent sales in the building suggest prices are affected by aspect and positioning, so the final value might be shaped by how this north-facing level compares with similar units.
Detailed Independent Property Report prepared by PropCred Analyst team for 2416/628 Flinders Street, Docklands VIC 3008
Checks found:
Value Risk
Liquidity Risk
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Docklands is a high-rise waterfront precinct on Melbourne’s CBD fringe, drawing professionals, investors and owner-occupiers seeking modern urban living. Rental demand is robust: house rents surged 47.1% over the year to $1,140 weekly, while unit rents rose 4.5% to $700. Units are the more active segment, selling in a median 47 days versus 63 days for houses. Price performance is mixed: median house values range from $955,000 (REIV) to $1.47 million (Woodards), with one source showing an annual decline of 16.8%; unit medians sit near $580,000–$595,000, with annual falls of 1–4%. House sales are thin, as few as three transactions in a year, and house days on market have lengthened sharply. Gross rental yields for units are strong at around 6%, compared with roughly 2% for houses. Ongoing waterfront development and lifestyle appeal underpin future interest, but affordability, rate sensitivity and weak house turnover remain key constraints.
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PropCred Estimated Value
Comparable Sales: 3016/628 Flinders Street sold $701,000 (2018); 816/628 Flinders Street sold $500,000 (2024) | Property Price Band: $600K-$700K | Value Drivers: North-facing outlook, high floor, premium finishes, building amenities
Bedrooms
2
Bathroom
1
Parking
-
Land
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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