There’s a couple of derelict mansions in Clarendon Street. When I first read about the neglect of Valetta, I thought that it was the increasingly ramshackle mansion down near Alexandra Pde that I had assumed that belonged to the Pullman Hotel (ex-Hilton Hotel). Valetta, however, is at the other end of Clarendon Street, near Victoria Pde, up near Epworth/Freemasons Hospital. The adjacent Clarendon House shows how beautiful it could be, and you can see the boarded up Valetta to the right of the picture.
Valetta was the residence of Redmond Barry, who plays a rather prominent part in this blog (here and here) and in multiple places in the ‘This Week in Port Phillip’ postings. Or rather, he lived there for one year before he died.

Valetta can be seen here, with Clarendon Terrace to the left.
Source: State Library of Victoria http://handle.slv.vic.gov.au/10381/296603
It will be interesting to see if this new Heritage Act has teeth in terms of forcing the owner to act. I’m not holding my breath.