3003/220 Spencer Street, Melbourne VIC 3000

Skyline dual-balcony separation | Owner-majority tower | CBD rail hub walkable | Strong rental yield evidence This apartment offers a rare configuration advantage in a high-density CBD tower: two private balconies with city skyline views and excellent bedroom separation, which typically commands a premium over standard one-balcony layouts. The building’s 65% owner-occupier ratio signals above-average care and lower turnover risk compared to investor-heavy towers. For a buyer seeking a lock-and-leave city base with strong rental exit options, the comparable 7.6% gross yield on a similar unit confirms income viability without sacrificing livability. The key risk is the building’s mixed overlay exposure—heritage, bushfire, and flood overlays may constrain future renovation flexibility and lender appetite, particularly for conservative financiers. The 0.62% annual capital growth on a comparable unit over 15 years suggests limited long-term price appreciation, so the commercial logic rests on yield rather than speculation. Parking is unconfirmed, which may reduce appeal for car-dependent buyers. This property suits a buyer who prioritises immediate cash flow and location utility over capital growth, and should be held as a steady rental performer in a transport-rich corridor.