515/250 St Kilda Road, Southbank VIC 3006

515/250 St Kilda Road, Southbank VIC 3006
Premium 2-bed, 2-bath, 2-car apartment in The Melburnian | Rare dual car spaces for Southbank | Flood overlay noted in planning data | Owner-occupier and downsizer appeal | This is upper-tier apartment stock, not typical Southbank product. The Melburnian is a prestige, Mirvac-built complex with concierge, indoor pool, gym, and landscaped gardens. The two-car configuration is a genuine rarity in inner-city apartment living and immediately sets this unit apart from the bulk of investor-grade stock nearby. Large floorplates, premium finishes, and the park-side, boulevard location place it firmly in the top end of the local market. It suits affluent owner-occupiers, downsizers, or buyers seeking a house-like apartment without land maintenance. The address offers proximity to the Royal Botanic Gardens, Arts Precinct, and CBD, with Anzac Station under construction nearby—reinforcing long-term convenience and appeal. The flood overlay and Special Building Overlay – Schedule 3 are planning controls worth understanding before purchase. They may affect future renovation or development potential and could influence insurance considerations, though they are common for major tower sites in this precinct. The exact floor level and aspect are not confirmed, and in this building outlook quality is a major value differentiator—city skyline, gardens, or park views command meaningful premiums. Owners corporation fees in a premium tower may be higher than typical apartments, so the full budget picture should be reviewed. These factors may shape price expectations, but they do not diminish the property’s core strengths.
Detailed Independent Property Report prepared  by PropCred Analyst team for 515/250 St Kilda Road, Southbank VIC 3006
Checks found:
Value Risk ✕ 2
Liquidity Risk ✕ 2
Planning Risk ✓
Income Risk ✕ 2
Execution Risk ✕ 2
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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: 1402/250 St Kilda Road sold $2.48M; 1203/250 St Kilda Road sold $2.15M | Property Price Band: $2.1M–$2.3M | Value Drivers: Dual car spaces, building prestige, floor level and outlook quality

Bedrooms

2

Bathroom

2

Parking

2

Land

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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