3211/60 Kavanagh Street, Southbank VIC 3006
3211/60 Kavanagh Street, Southbank VIC 3006
High-floor 3-bedroom format | Rare large floorplan in Southbank | Full building amenity | Strong rental demand for family-sized stock
This is an uncommon configuration for Southbank, where most towers are built around compact one and two-bedroom investor units. A three-bedroom, two-bathroom apartment at 105 square metres with secure parking and storage moves it into a different segment entirely — one that suits owner-occupiers, particularly downsizers or professional couples who want CBD proximity without sacrificing space. The floor-to-ceiling glazing, high ceilings, and electronic blinds give it a genuinely premium feel, and the building’s concierge, pool, gym, and rooftop terraces add a layer of convenience that is hard to replicate in older stock. For a buyer seeking a lock-and-leave inner-city home with room to live, this property sits well above the typical Southbank offering.
The value picture here may be shaped by how the market prices larger apartments in a suburb dominated by smaller stock. Buyers comparing against newer developments nearby might find the internal finishes dated, and the absence of an exact floor level in the listing means the quality of the city views remains unverified until inspected. The flood overlay flagged on the property could affect insurance costs and lender appetite, so that should be confirmed early. Rental evidence for similar three-bedroom units in the building suggests strong income potential, which may support the price if the property is considered as an investment, but the owner-occupier demand for this layout is likely the more reliable driver.
Detailed Independent Property Report prepared by PropCred Analyst team for 3211/60 Kavanagh Street, Southbank VIC 3006
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
2
Execution Risk
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Market Insight
Southbank’s inner-Melbourne position and transport links around St Kilda Road and Southbank Boulevard underpin activity, but the market is overwhelmingly a unit market: 596 unit sales against 7 house sales in the past year. Unit demand is driven by renters and investors, with median weekly rents holding at $695 for both houses and units and units averaging 45 days on market. Price signals are mixed: unit medians range from $501,850 to $555,000, with annual growth between -2.55% and -18.2%; house data is unreliable, with medians of $450,500 and $862,000 and growth of -64.3% on just 2-7 transactions. Infrastructure and rental stability support future demand, but thin house supply, softening unit prices, and 45-55 day selling periods are constraints.
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PropCred Estimated Value
Comparable Sales: 4402/60 Kavanagh Street (2-bed, sold $1.18M in 2019) and 3810/60 Kavanagh Street (2-bed, sold $690K in 2024) | Property Price Band: $1.1M–$1.2M | Value Drivers: 3-bedroom scarcity, high-floor outlook, building amenity package
Bedrooms
3
Bathroom
2
Parking
1
Land
105m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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