In the highly sought after, blue chip suburb of Albert Park, flexibly zoned opportunities for Victorian residences are few and far between. Situated on the border of Albert Park Village, St. George's Terrace is a stunning grand Victorian residence that offers significant potential for both commercial use or family home (STCA)
Sprawling over approximately 215m2, this terrace residence features original period details such as lofty high ceilings, ornate fireplaces, decorative arches and cornices, latticed balcony and bay window detailing. Currently partitioned as nine rooms plus two bathrooms/powder rooms, including kitchenettes on both floors, this property could be perfectly utilized as an office or consulting rooms. The significant potential and flexibility offered by a classic residence like this also translates easily to a 4 bed, 2 bath family home which can be easily transformed with some renovations (STCA). The residence also features a storage space, parking space and rear access to Bevan Street.
Located less than a stone's throw away from the esteemed St Vincent Gardens, and the retail and dining precinct on Bridport St and Victoria Avenue for lifestyle and entertainment needs. Transport options also abound with tram and light rail stops practically on your doorstep. The rarity of exceptional opportunity offered by this stunning residence is not to be missed.
The size of Albert Park is approximately 2.8 square kilometres. There are 10 parks, covering nearly 55.1% of the total area. The population of Albert Park in 2016 was 6215 people. By 2021 the population was 6044 showing a population decline of 2.8% in the area during that time. The predominant age group in Albert Park is 50-59 years. Households in Albert Park are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Albert Park work in a professional occupation.In 2021, 60.80% of the homes in Albert Park were owner-occupied compared with 58.90% in 2016.
Albert Park has 3,640 properties. Over the last 5 years, Houses in Albert Park have seen a 11.08% increase in median value, while Units have seen a -5.75% decrease. As at 30 April 2026:
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