504/201 Ferrars Street South Melbourne VIC 3205

Dual-level penthouse | South Melbourne | 612m² land | Flood overlay | 3.3% yield This dual-level penthouse offers a rare configuration within a sustainable, award-winning development, providing house-like space in a premium South Melbourne position adjacent to markets and transport. Its substantial 612-square-meter land holding for a unit is uncommon and appeals to owner-occupiers seeking a low-maintenance lifestyle or investors targeting long-term capital growth in a tightly held locale. The zoning for well-regarded government schools strengthens its family appeal. Proceed with a disciplined price ceiling due to the identified flood overlay, which necessitates specialised insurance and may impact future financeability. The current Expressions of Interest campaign suggests competitive interest, so any offer must be conditional on a building inspection and a valuation aligning with true market comparables. This property suits a hold strategy, leveraging its scarcity, with the rental yield providing a partial income offset. Propcred can quantify the flood risk cost, verify the developer’s award claims, and provide the locality and valuation checks needed to bid with confidence.