FOR SALE
$200,000 - $220,000 | Weston Real Estate

16/20 Bank Place
Melbourne VIC 3000

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Floor area: 33m2
Land area: 33m2
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Unbeatable Opportunity in Melbourne's CBD

Affordable Mezzanine Level Reception Office Space or Apartment Conversion
Immerse yourself in the vibrant atmosphere of Melbourne's CBD with this unique mezzanine level reception office space, nestled in a historic building surrounded by office towers, cafes, and restaurants. For over 20 years, this space has served as the reception area for a renowned hotel chain, presenting an unparalleled opportunity for an astute buyer or investor to capitalize on this prime location. This space is ripe for conversion into a stylish apartment or could continue to thrive as office space or take advantage of the booming demand for coworking and shared office spaces. Note no bathroom in place.
Key features include:
* Rare opportunity to capitalize on Melbourne's booming CBD market
* Prime location surrounded by offices, cafes, restaurants, and public transport links
* Established reputation as a reception area for a renowned hotel chain
* Ample potential for conversion to an apartment STCA (Development Zone CCZ1)
* Established infrastructure nearby, minimizing renovation costs
* Potential for high rental yields
Don't miss out on this rare chance to secure a piece of Melbourne's Central Business District real estate landscape. Be quick to inspect! please contact Mike Weston 0458 000 456 or email michael@westonrealestate.melbourne
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Property Details for 16/20 Bank Pl, Melbourne

16/20 Bank Pl, Melbourne is a 1 bedroom, 1 bathroom Apartment. The property has a land size of 33m2 and floor size of 33m2. The place is currently for sale with Weston Real Estate Melbourne.

Building Type
Apartment
Floor Size
33m2
Land Size
33m2

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About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 60,854 properties. Over the last 5 years, Houses in Melbourne have seen a -37.57% decrease in median value, while Units have seen a 0.09% increase. As at 30 September 2024:

  • The median value for Houses in Melbourne is $742,012 while the median value for Units is $459,555.
  • Houses have a median rent of $600 while Units have a median rent of $650.
There are currently 304 properties listed for sale, and 276 properties listed for rent in Melbourne on OnTheHouse. According to CoreLogic's data, 2021 properties were sold in the past 12 months in Melbourne.

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