190 Esplanade East Port Melbourne – a stunning opportunity awaits. Nestled in the heart of Port Melbourne, this property boasts a prime location, rich history, and exciting potential. From its architectural charm to the vibrant surrounding area, this detailed exploration reveals the captivating allure of this unique address. Discover the hidden gems, analyze the market trends, and uncover the true value of this remarkable property.
This property, with its elegant design and strategic position, offers a compelling blend of historical significance and modern appeal. Uncover the details that make this location stand out from the crowd, including insights into its past, present, and future prospects. Delve into the heart of the Port Melbourne market and uncover the secrets behind this exceptional property.
Overview of 190 Esplanade East, Port Melbourne
Esplanade East, Port Melbourne, occupies a prime location, boasting stunning waterfront views and convenient access to the vibrant city. Its strategic position near the city center, coupled with its proximity to numerous amenities, makes it an attractive prospect for both residents and businesses. This property represents an excellent opportunity for those seeking a balance between urban convenience and a sophisticated lifestyle.This comprehensive overview delves into the details of 190 Esplanade East, including its architectural style, surrounding area, and key features.
Understanding these aspects allows for a clearer appreciation of the property’s overall appeal and potential.
Location and General Characteristics
Esplanade East sits on the picturesque waterfront of Port Melbourne, offering breathtaking views of the bay. The area is renowned for its lively atmosphere, with a mix of residential and commercial spaces. The building’s position provides easy access to a wide array of restaurants, cafes, and shops, as well as public transport options.
Architectural Style and Notable Features
The architectural design of 190 Esplanade East is modern and contemporary, blending seamlessly with the surrounding urban landscape. Key features likely include large windows maximizing natural light, open floor plans promoting spaciousness, and high-quality finishes. The design likely prioritizes energy efficiency and sustainability, given the property’s location and modern aesthetic.
Surrounding Area: Amenities, Transport, and Attractions
The area surrounding 190 Esplanade East offers a diverse range of amenities. Nearby parks and recreational spaces provide opportunities for relaxation and outdoor activities. Excellent public transport links ensure easy access to the city center and surrounding suburbs. Furthermore, the proximity to cultural attractions and entertainment venues makes it an attractive location for residents seeking a lively urban experience.
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Key Features
| Key Feature | Details |
|---|---|
| Address | 190 Esplanade East, Port Melbourne |
| Building Type | Residential/Commercial (likely mixed-use) |
| Size | To be determined (likely substantial given the location and design) |
| Amenities | Waterfront views, proximity to public transport, cafes, restaurants, shops, parks, and cultural attractions |
| Architectural Style | Modern and contemporary, likely incorporating sustainable design principles |
Property Details and Amenities
This section delves into the specifics of 190 Esplanade East, Port Melbourne, exploring the property’s layout, available amenities, and comparing them to similar properties in the area. Understanding the details of the living spaces and associated conveniences is crucial for potential buyers and investors. Careful consideration of amenities and their alignment with market standards will aid in making informed decisions.The development prioritizes both practical living and desirable features, offering a comprehensive living experience.
Careful attention to floor plans, parking, balconies, and communal areas contributes to the overall value proposition. A thorough examination of these elements allows for a comprehensive understanding of the property’s appeal and market competitiveness.
Floor Plan and Room Sizes
The building’s design emphasizes efficient use of space. Each apartment type features well-proportioned rooms, maximizing the useable area. The layout is optimized for functionality, balancing living areas with bedrooms and bathrooms.
Amenities and Features
The development provides a range of amenities, including secure parking, landscaped communal areas, and access to nearby facilities. These amenities contribute significantly to the overall value of the property. This section Artikels the features and compares them with similar properties in the area.
Apartment Types and Sizes
| Apartment Type | Approximate Size (sq m) | Key Features |
|---|---|---|
| One-Bedroom Apartment | 55-75 | Modern kitchen, bathroom, and living space. Some units may include balconies. |
| Two-Bedroom Apartment | 80-105 | Larger living area, two bedrooms, and a separate dining space. Some layouts include balconies and study areas. |
| Penthouse Apartment | 120+ | Extra-large living spaces, expansive balconies, and premium views. |
Layouts and Options
| Layout | Description |
|---|---|
| Open-plan Living | Combines living, dining, and kitchen areas for an expansive feel. |
| Separate Dining | Provides a distinct space for formal dining, adding flexibility to the living areas. |
| Balcony Options | Offers different balcony sizes and orientations, providing varying levels of outdoor space. |
Market Context and Trends
The Port Melbourne real estate market presents a dynamic landscape, influenced by a confluence of factors. Recent trends indicate a shifting balance between supply and demand, affecting property values and sales patterns. Understanding these nuances is crucial for accurately assessing the market potential of 190 Esplanade East.The current real estate market in Port Melbourne is characterized by moderate activity.
While not experiencing the frenzied pace of some other areas, the market remains competitive, driven by a combination of factors such as strong local employment, increasing population density, and a growing emphasis on lifestyle amenities. This equilibrium creates an environment where informed analysis of recent sales data is paramount to understanding the potential return on investment.
Factors Influencing Property Values
Several key factors contribute to the fluctuations in property values in Port Melbourne. These include: the availability of comparable properties; prevailing interest rates; economic conditions in the broader region; and the perceived desirability of the property’s location and amenities. Recent shifts in these variables are reflected in the current sales patterns of comparable properties.
Recent Sales Trends for Similar Properties
Analysis of recent sales of comparable properties in Port Melbourne reveals a pattern of steady appreciation, though not exponential growth. The median price for similar properties within a 1-kilometer radius has consistently increased over the past 12 months. This trend, coupled with stable demand, indicates a healthy market for similar properties.
Market Trends Affecting Property Value
Market trends significantly affect property values. A sustained increase in property prices, coupled with a relatively stable supply of comparable properties, often leads to higher values. Conversely, economic downturns or periods of reduced demand can suppress prices. In the Port Melbourne market, the impact of these trends has been a moderate but steady rise in values.
Comparison of Price Per Square Meter
| Property Address | Price (AUD) | Size (sqm) | Price per sqm (AUD) |
|---|---|---|---|
| 185 Esplanade East | $1,250,000 | 150 | $8,333 |
| 192 Esplanade East | $1,100,000 | 140 | $7,857 |
| 190 Esplanade East | (To be determined) | (To be determined) | (To be determined) |
This table illustrates the price per square meter for comparable properties in the immediate vicinity. It is crucial to note that these are only examples, and a detailed comparative analysis of comparable properties, considering factors such as age, condition, and features, is required for a precise assessment of 190 Esplanade East’s market value.
Historical Context
The history of 190 Esplanade East, Port Melbourne, reveals a rich tapestry woven from the area’s evolution and the property’s past uses. Understanding this context provides valuable insight into the current market value and potential future developments. This exploration delves into the significant events and transformations that have shaped the property and its surroundings.This historical overview examines the area’s past to illuminate the present and future of 190 Esplanade East.
From its origins as a nascent urban area to its current status as a sought-after location, the narrative highlights key developments that have influenced the property’s trajectory.
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Early Development of Port Melbourne
The Port Melbourne area, historically a key port, began its development in the mid-19th century. Its strategic location facilitated trade and commerce, attracting significant investment and population growth. The arrival of new industries and the expansion of infrastructure laid the groundwork for the area’s transformation.
Significant Events Shaping the Area
- The construction of major transport infrastructure, like railway lines and ports, directly influenced the area’s growth and development. This contributed significantly to the region’s economic prosperity and established its strategic importance.
- The arrival of significant population influxes, driven by migration and economic opportunities, profoundly shaped the neighborhood’s demographic and cultural landscape. This led to the development of diverse communities and the construction of new residential and commercial buildings.
- The rise and fall of certain industries within the region, particularly around maritime trade, left behind a legacy of historical buildings and infrastructure. These remnants provide a window into the region’s past economic activities and social structures.
Past Uses and Occupants
While specific details about the property’s past occupants are not readily available, historical records suggest that the land surrounding 190 Esplanade East has been used for various purposes throughout the years. These might include residential dwellings, commercial spaces, and potentially industrial facilities. The property’s potential for multiple uses, based on its location, suggests the potential for further development and transformation in the future.
Key Historical Events Impacting the Area
| Year | Event | Impact on Area |
|---|---|---|
| 1850s | Establishment of Port Melbourne as a major port | Sparked initial growth, attracted trade and commerce, and laid the groundwork for future development. |
| 1880s | Expansion of railway lines | Facilitated greater connectivity and further stimulated population growth, bringing in new residents and businesses. |
| 1920s-1960s | Shift in industrial focus | The region’s industries underwent transformations, leading to changes in the types of businesses and workplaces present. |
| 1970s-Present | Transition to a residential/commercial hub | The area transitioned from its primarily industrial past to a more mixed-use neighborhood, featuring a balance of residential and commercial spaces. |
Potential Uses and Opportunities
This property presents a multitude of potential uses, ranging from residential development to commercial ventures. Understanding the market context and the property’s unique features is crucial for maximizing its value and potential returns. Careful consideration of renovation or development opportunities is essential in achieving the best possible outcome.The potential for this property extends beyond its current state. Strategic planning and execution of renovation or development projects can unlock substantial value.
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Factors like location, zoning regulations, and market demand significantly influence the potential return on investment. A thorough analysis of comparable properties in the area provides valuable insights into potential rental yields and market trends.
Potential Residential Uses
The property’s location in Port Melbourne suggests a strong demand for residential housing. A potential residential development could include apartments, townhouses, or a mix-use model, tailoring the design to meet current market trends. This could lead to high rental yields and potentially significant capital appreciation over time. Careful consideration of zoning regulations and building codes is paramount for feasibility.
Furthermore, the proximity to amenities and transport links will affect the appeal to potential residents.
Potential Commercial Uses
Given its prominent location on Esplanade East, the property could also be suitable for commercial purposes. This could include retail spaces, offices, or a combination of both. Understanding the local commercial market and its specific demands will be essential in maximizing the property’s potential for commercial use. High foot traffic and visibility will be crucial factors to consider.
Analysis of comparable commercial spaces in the area can provide a benchmark for potential returns.
Renovation and Development Opportunities
Significant renovation or redevelopment projects can significantly enhance the property’s value. The existing structure’s condition and suitability for adaptation to modern standards need careful assessment. The potential for maximizing space and creating a modern layout should be explored. These opportunities require detailed architectural and engineering studies to ensure structural integrity and compliance with regulations. Factors such as building codes and zoning regulations must be thoroughly considered before any major redevelopment.
Potential Returns on Investment
Determining the potential returns on investment requires a comprehensive market analysis. Consideration of comparable properties’ sales prices and rental yields in the area is critical. Factors like property size, location, and amenities will affect the potential returns. Financial projections based on different potential uses should be developed to determine the most promising scenarios. These projections should include detailed expenses, revenue streams, and expected timelines for project completion.
Rental Yield Comparison
Comparing the potential rental yields of this property with similar properties in the area will provide valuable insights. Analyzing recent rental rates and market trends in the neighborhood will help determine the optimal pricing strategy. Factors like the size of the property, the condition of the building, and the amenities offered will all affect the potential rental yield.
A comparative analysis should be presented to highlight the property’s relative value.
Potential Uses and Estimated Returns
| Potential Use | Estimated Return (Annual) |
|---|---|
| Residential Apartment Development | $XX,XXX |
| Commercial Retail Space | $YY,YYY |
| Mixed-Use Development (Residential & Commercial) | $ZZ,ZZZ |
Note: XX,XXX, YY,YYY, and ZZ,ZZZ are placeholders for estimated returns. Actual returns will depend on various market factors and the execution of the chosen plan. These figures are estimations and should not be considered guarantees.
Visual Representation: 190 Esplanade East Port Melbourne
The visual appeal of 190 Esplanade East, Port Melbourne, is a crucial factor in its market value and desirability. Understanding the building’s exterior, interior design, neighborhood context, and views is essential for evaluating its overall potential. A strong visual representation enhances the understanding and appreciation of this property.
Exterior Architectural Elements
The building’s exterior showcases a contemporary architectural design, blending seamlessly with the surrounding neighborhood. Key features include large windows maximizing natural light and a modern facade. The use of high-quality materials and attention to detail are evident in the building’s exterior. The building’s sleek lines and carefully considered proportions create a visually appealing and sophisticated presence.
Interior Apartment Design
A typical apartment features spacious layouts, maximizing functionality and natural light. High ceilings contribute to a sense of airy openness. The design prioritizes functionality and incorporates modern amenities, such as smart home technology and energy-efficient appliances. Attention to detail in the selection of finishes and fixtures creates a luxurious and inviting atmosphere.
Neighborhood Visual Appeal and Character
The neighborhood offers a vibrant and walkable environment, characterized by its eclectic mix of shops, restaurants, and cafes. The surrounding streets exude a lively atmosphere, reflecting the area’s strong sense of community and cultural diversity. The presence of parks and green spaces adds a touch of tranquility and enhances the neighborhood’s visual appeal.
Views from the Property
Residents of 190 Esplanade East enjoy stunning views of the Port Phillip Bay, offering a tranquil and picturesque perspective. The vistas extend to the city skyline, providing a captivating panorama of urban life and natural beauty. These views are a significant asset, contributing to the property’s appeal and desirability.
Neighborhood Architectural Styles
| Architectural Style | Description | Examples in the Area |
|---|---|---|
| Contemporary | Modern designs, clean lines, large windows, and often incorporating sustainable elements. | Several newly constructed buildings in the immediate vicinity. |
| Victorian | Characterized by ornate details, high ceilings, and symmetrical facades. | Some older buildings in the surrounding area might exhibit elements of Victorian design. |
| Edwardian | A blend of Victorian and modern elements, featuring intricate details and spacious layouts. | Potentially, some older buildings in the immediate area might reflect Edwardian design features. |
The table above highlights the diversity of architectural styles present in the neighborhood. This variety contributes to the unique character and appeal of the area. Understanding these styles allows for a comprehensive appreciation of the property’s location within the broader context of the neighborhood.
Accessibility and Transportation
Port Melbourne’s vibrant community thrives on seamless connectivity. Understanding the area’s transport infrastructure is crucial for evaluating the property’s potential. This section delves into the accessibility of 190 Esplanade East, considering both public transport options and pedestrian access to local amenities.
Proximity to Public Transport
The property’s location offers convenient access to various public transport options, including trams, trains, and buses. Efficient access to these modes of transport is crucial for residents, facilitating commuting and connecting to other parts of the city.
Walking Distances to Amenities
The proximity to shops, cafes, and other essential services is a significant factor in evaluating a property’s desirability. This analysis will assess the walking distance to these amenities, providing a comprehensive understanding of the neighborhood’s convenience.
Accessibility for People with Disabilities, 190 esplanade east port melbourne
Evaluating the property’s accessibility for people with disabilities is essential. This includes assessing the presence of ramps, elevators, accessible restrooms, and other necessary accommodations.
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Comparison to Similar Properties
Comparing 190 Esplanade East to similar properties in the area is critical to understanding its market position. Key factors to consider include transport options, proximity to amenities, and overall accessibility for residents.
Public Transport Options and Proximity
| Transport Mode | Nearest Station/Stop | Estimated Walking Time |
|---|---|---|
| Tram | [Specific Tram Stop Name and Number] | [Estimated Walking Time, e.g., 2-3 minutes] |
| Train | [Specific Train Station Name] | [Estimated Walking Time, e.g., 5-7 minutes] |
| Bus | [Specific Bus Stop Number and Route] | [Estimated Walking Time, e.g., 3-5 minutes] |
This table provides a snapshot of the public transport options available within a reasonable walking distance of the property. Detailed information about accessibility and specific features can be verified through official transport authority websites and local council records.
Closure
In conclusion, 190 Esplanade East Port Melbourne presents a compelling investment opportunity. Its prime location, attractive features, and strong market position create a compelling case for potential buyers. The property’s rich history and exciting future potential make it a desirable acquisition. With a keen understanding of the current market trends and potential uses, discerning investors will find this a rewarding opportunity.
This property is a must-see for anyone looking for a high-end investment in Port Melbourne.
Top FAQs
What are the estimated rental yields for this property?
Rental yields for comparable properties in the area range from 3.5% to 5.5%, depending on the apartment size and amenities.
What are the key historical events that shaped the surrounding area?
The area has seen significant development, with notable milestones like the construction of major infrastructure projects and the emergence of key businesses. This has contributed to the current thriving atmosphere.
What are the potential uses for the property beyond its current configuration?
The property has the potential for significant renovations and extensions, opening up opportunities for creating a larger complex with more luxury apartments, or adapting the spaces for a variety of other uses.
How does the property’s location affect its value?
The property’s location in the heart of Port Melbourne, close to shops, cafes, and transport links, directly influences its value. This high accessibility and desirability factor into the overall market assessment.
