61 Carlisle Street
St Kilda, VIC 3182

Overview

61 Carlisle Street, St Kilda

Approximately 467 square metres of bayside land with a north-facing frontage, zoned General Residential (Schedule 1), presents an exceptional opportunity for developers seeking a three-storey, medium-density build in a highly sought-after postcode. The Schedule 1 zoning aligns with the medium-density development direction encouraged by both Council and State policies, with three storeys being the maximum permitted under this zoning. The northern orientation of the site enhances the appeal and value of upper-floor apartments, while the parcel size is ideal for boutique developments rather than large-scale volume projects.

Currently, the site hosts a grand period building configured as an 11-room rooming house, featuring two bathrooms and a kitchen. This property is fully let, providing immediate income from day one. This setup allows investors to hold the property with purpose while preparing development plans, engaging consultants, navigating approval processes, and potentially securing pre-sales. The existing configuration operates efficiently, requiring no immediate capital expenditure to maintain productivity.

The location offers excellent connectivity and lifestyle amenities. Trams run directly past the doorstep, providing access to the St Kilda Road network, while Balaclava Station offers train services for commuters. Carlisle Street itself extends from the vibrant café and bar precinct at one end down towards Acland Street, Barkly Street, the St Kilda Botanical Gardens, and the beach at the other. Nearby attractions include Chapel Street, Fitzroy Street, Albert Park Lake, and the Melbourne CBD, all within easy reach.

Educational facilities in the catchment area include Elwood College and St Kilda Primary School, with prestigious institutions such as St Michael's Grammar and Caulfield Grammar also nearby. The established and walkable amenity of the area is not reliant on future infrastructure developments to deliver value, making it a stable and attractive location for investment and development.

This property offers flexibility to hold and collect income, plan and build subject to council approval, or stage the development process over time. The true value lies in the land, its orientation, and the prime location, all of which combine to create a compelling proposition for developers aiming to deliver quality projects in a rewarding market.

All information provided, including floorplans, room dimensions, and land size, is indicative only and intended for general guidance. Prospective buyers are advised to conduct their own research, seek independent advice, and verify all details independently before making any property-related decisions. No responsibility is accepted for any discrepancies or misstatements.

Location