23-25 St Leonards Court, South Yarra

  • 10 beds |
  • 7 baths |
  • 8 cars

What does a "Trophy Investment" mean?

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Before we extol all the benefits of this ornate art-deco block of three two-bedroom & four one-bedroom apartments, there are two answers to that question. The first is that the word trophy, coined in English in 1550, was derived from Ancient Greek, meaning a turn, a change and ultimately a prize of war. In modern times it has come to mean a monument of victory, a tangible, durable reminder of achievement. Now these phrases read well & are interesting enough to engage the few people that will read this, but we still have a second answer to the question "What does a Trophy Investment mean?" It means you can simultaneously recognise your own achievements while setting your family up for generations. We are constantly overestimating what we can do in a day but enormously underestimating what we can do in a decade. This intergenerational opportunity is one that is worth zooming out for, as in such a tightly held location the capital growth prospects of this 602sqm (approx.) are assured for more than decades to come.

St Leonards was built in 1941, to showcase the new talents of the builders at the time. Builders who cared about the future & built things to last; just organise an inspection to see for yourself. At the time they had picked the perfect site, standing proudly at the top of one of the three best spots South Yarra. Perfectly set between the Botanic Gardens, Melbourne's CBD, Albert Park Lake, & the Yarra River. Now back in those days they didn't have drone photography, but if they did, I am sure they would have wanted to showcase the views from two of three levels of these solid, & now refurbished, apartments. To be able to look out to the CBD & the MCG from half the building is incredible enough, but the value long term in a truly bullet-proof, blue-chip investment like this cannot be understated.

Currently returning $173,964 approx. pa the buy-&-hold option is enticing enough. For those inspired to create a truly one-of-a-kind residence for themselves, the quirks & eccentricities you will find upon inspection will be tinder for your designer fire. Whether it is combining the seven apartments into whole level residences or converting St Leonards into one incredible home, the options are endless (subject to council approval of course). Opportunities like St Leonards Court are taken by those when the time is right for them… so if the timing is right for you count your lucky stars that you were ready when St Leonards was up for sale.

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