2902/1 Point Park Cres, Docklands VIC 3008
2902/1 Point Park Cres, Docklands VIC 3008
panoramic river views | sub-penthouse scale | premium Docklands address | triple-bedroom plus study
This property occupies a strong position in the Docklands market, offering a rare sub-penthouse configuration with three bedrooms plus a separate study and a full-length balcony that captures both Yarra River and city skyline views. The 180-square-metre internal area is generous for the precinct, and the inclusion of two secure car spaces with a storage cage adds practical appeal for owner-occupiers seeking long-term liveability. The building’s amenity set—pool, gym, sauna, rooftop garden—is comprehensive enough to reduce reliance on external facilities, which strengthens the property’s competitive edge against newer but smaller apartments. It suits professional couples or downsizers who prioritise space, outlook, and building quality.
The flood overlay detected on the lot is a specific risk that warrants due diligence on insurance costs and strata obligations, particularly given the property sits near water. The estimated value of $641,000 appears misaligned with the current listing price of $2.3 million and the 2011 sale of $1.715 million, suggesting either a data error or a significant gap between valuation and market expectation. Buyers should verify recent comparable sales in the building to gauge realistic entry points. The land size of 1.07 acres is likely a strata lot share, not exclusive land, so it does not confer development upside. Overall, the property’s appeal is strongest for those seeking established quality and views, but pricing discipline and flood risk assessment are critical.
Detailed Independent Property Report prepared by PropCred Analyst team for 2902/1 Point Park Cres, Docklands VIC 3008
Checks found:
Value Risk
Liquidity Risk
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Docklands is a modern, high-density waterfront precinct offering a dynamic urban lifestyle. Demand is driven by professionals and investors seeking convenience and rental returns, evidenced by strong rental growth and quicker unit sales. Recent price trends show a softening house market with extended selling times, while units demonstrate relative stability. Future growth is anchored in its ongoing development and rental appeal, though sensitivity to broader market conditions and limited house turnover present notable constraints.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
1.07 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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