504/915 Collins Street, Docklands VIC 3008

North-facing water views | negative annual growth in building | rental yield possible near 6% | flood overlay present The decision rests on whether you prioritize lifestyle amenity over capital performance. Comparable sales within 915 Collins Street show consistent annual depreciation of -0.8% to -2.6% over 6–9 year holds, meaning a buyer here is likely buying a declining capital value, not a growth property. The offset is a strong rental yield around 5.9–7%, making this viable as a hold-for-income position if you buy near the lower end of the market range. For capital growth, look elsewhere. What makes this property competitive is the rarity of a north-facing marina apartment in a Lendlease building with full amenities-heated pool, concierge, and secure parking-paired with strong rental demand in Docklands. The floor-to-ceiling windows and proximity to Southern Cross Station and waterfront dining are genuine drawcards that support premium rent levels. This unit best serves an owner-occupier who values views and lifestyle and expects to hold long-term, or an investor seeking reliable cash flow without capital gain expectations. Use the building’s historical depreciation as leverage in price negotiation, and commission a flood risk assessment before proceeding.