L 1 101/7 Waterfront Place, Port Melbourne VIC 3207
L 1 101/7 Waterfront Place, Port Melbourne VIC 3207
This is a 174-square-metre three-bedroom apartment on level one of a 2025-built development in Port Melbourne. It includes two bathrooms and two car spaces. The unit is part of a larger mixed-use project designed by Woods Bagot, with a pool and bike storage planned for the building. The suburb walk score is 85.
What is competitively strong about this property is its size. At 174 square metres it is significantly larger than most new apartments in Port Melbourne, which tend toward one and two bedroom configurations. The 2025 build date means it is newer than the majority of the suburb’s stock, and the finishes are promoted as modern luxury. This unit is best suited to a buyer who wants a spacious, low-maintenance home in a walkable waterfront precinct without the compromises of a smaller floorplan or an older building. Its position on level one also offers easier access than higher floor units.
What may materially affect value is the broader development timeline. While this unit is completed, the surrounding project is still in pre-construction with an estimated completion of mid 2029. Construction activity and uncertainty around final amenity delivery could influence short term resale or rental appeal. The price movement from a 2024 sale to the current listing is significant, and the rental yield at the current asking price sits below three percent, which may give a yield-focused buyer pause. The transition of the site from recreational use to high density is a neighbourhood change worth considering.
Detailed Independent Property Report prepared by PropCred Analyst team for L 1 101/7 Waterfront Place, Port Melbourne VIC 3207
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Port Melbourne presents a dynamic, evolving market with a clear divergence between its established housing sector and its unit segment. Demand is robust, evidenced by strong auction activity and consistent sales, though the pace varies. While houses demonstrate relative stability, the unit market faces clear headwinds with softening prices, indicating supply or demand pressures. Future growth is underpinned by significant local infrastructure investment, including the major Station Pier redevelopment, which will enhance amenity and likely sustain long-term appeal.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
1361m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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