Held by only two owners throughout its 128-year history, this landmark Italianate villa presents an extraordinary opportunity for architects, developers and builders. Set on approximately 783sqm of west-facing land, the property showcases striking bichromatic brickwork, soaring 3.7m ceilings, ornate period details, up to five bedrooms and a heritage-style brick garage. Restore its original grandeur, create a spectacular contemporary extension, or explore its redevelopment potential (STCA). Positioned beside William Street Reserve and moments from Carlisle Street, Balaclava Station, Chapel Street and St Kilda Beach, this is a rare chance to preserve the past while creating something remarkable for the future.