937 Collins Street Docklands VIC 3008

Waterfront townhouse | 1.1 acre lot Docklands | 3 bed 4 bath | Rental yield upside | Rare land content in urban zone This property offers a combination almost impossible to find in Docklands: a 265-square-metre townhouse on a 1.1-acre lot. For a buyer, that land content is the primary competitive edge. In a market where most units trade on views and finishes, this one trades on scarcity of envelope. The master suite with private balcony and walk-through dressing area, the in-ground pool, and the four bathrooms make it a genuine family hold in a precinct dominated by investors. It suits a buyer who wants a waterfront home with room to move, not a lock-and-leave apartment. The rental yield at $1,700 per week is strong for the area, and the 2016 purchase price of $2.8 million suggests the current estimated value range of $1.88–$2.2 million may reflect a market correction, not a weakness. The flood overlay is the principal risk. It may affect insurance premiums and future redevelopment appetite. The property is not for sale, so a buyer must approach with a direct offer or wait for a motivated vendor. The absence of recent sales data and floor plans means due diligence will require a physical inspection and a title search. The large lot in a corner location near Village Street and McCrae Street offers potential for subdivision or dual occupancy, subject to council approval. This is not a passive hold; it is a land play with a rental income buffer. Use it as a primary residence or hold it for medium-term capital growth on the land component, not the building.