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17 Scott Street
Melton VIC 3337

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 426m2
Land area: 426m2
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MIXED-USE COMMERCIAL DEVELOPMENT SITE WITH APPROVED PLANS AND PERMITS IN THE HEART OF MELTON!!

Raine & Horne Land Victoria is excited to offer 426 m² approx. of mixed used commercial development site up for sale in the heart of Melton with approved plans & permits for an office, pizza restaurant, three residential apartments, and a childcare facility across 3 levels located within Scott Street Shopping Precinct. This approved plan and permits are highly unique and probably the only one in Melton as you have the exposure of retail shops, residential apartments & kindergarten exposure under one roof. This is your opportunity to create commercial rental income portfolio with great capital growth prospect in future as this location is in the heart of Melton, only minutes to Wood grove Shopping Centre, schools, parks, and public transport make this opportunity so special.
The proposed ground floor features two offices with common staff amenities, a reception area, and a pizza restaurant. The proposed residential apartments on the upper levels feature 2-3 bedrooms, kitchen, bathroom, laundry, family area, meals area, study, balcony, and a common lift with basement parking and a childcare facility across 3 levels. The site represents a rare opportunity to capitalise on the emerging medium density market in close proximity to the amenities, excellent shopping options and recreational open spaces.
Buying options:
Option A: 17 & 17A Scott Street, Melton - Asking Price: $1.4 Million
Option B: 17 Scott Street, Melton - 201 m² approx Corner Shop, Asking Price: $750,000
Option C: 17A Scott Street, Melton - 217 m² approx, Asking Price: $750,000
Property Features:
• Corner block opportunity overlooking children park
• 426 m² approx. in Commercial 1 Zone
• The shopping strip includes food, medical and retail businesses
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Property Details for 17 Scott St, Melton

Building Type
Commercial
Floor Size
426m2
Land Size
426m2

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About Melton 3337

The size of Melton is approximately 20.3 square kilometres. It has 23 parks covering nearly 11.7% of total area. The population of Melton in 2011 was 7,592 people. By 2016 the population was 8,063 showing a population growth of 6.2% in the area during that time. The predominant age group in Melton is 60-69 years. Households in Melton are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Melton work in a trades occupation. In 2011, 64.8% of the homes in Melton were owner-occupied compared with 63.2% in 2016.

Melton has 5,125 properties. Over the last 5 years, Houses in Melton have seen a 23.99% increase in median value, while Units have seen a 14.12% increase. As at 30 September 2024:

  • The median value for Houses in Melton is $475,219 while the median value for Units is $370,444.
  • Houses have a median rent of $400 while Units have a median rent of $370.
There are currently 46 properties listed for sale, and 22 properties listed for rent in Melton on OnTheHouse. According to CoreLogic's data, 213 properties were sold in the past 12 months in Melton.

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Rizul Sharma
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Raine & Horne Land Victoria
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