501/75 Wellington Street, Collingwood VIC 3066

Large apartment land share | Prime walkable location | Strong rental yield & demand | Heritage overlay present This property presents a rare configuration: a one-bedroom unit on an exceptionally large 1142m² land parcel within a heritage area, suggesting a low-density strata with potential for enduring capital stability. Its prime, walkable location and consistent rental history, yielding 5.79%, make it a compelling, low-maintenance investment for a yield-focused buyer or a lifestyle-oriented occupant seeking space and amenity. The below-market listing price against a higher valuation indicates immediate equity potential. Key risk is the heritage overlay, which strictly limits alterations and redevelopment, permanently capping the land’s utility. The large site area, while unusual, does not confer development rights to the individual owner. Proceed only if you accept this as a fixed, income-generating property; its value is in its current use, not future potential. It is a hold for secure yield, not for transformation.