469 Somerville RoadBrooklyn VIC 3012
Property Details for 469 Somerville Rd, Brooklyn
469 Somerville Rd, Brooklyn is a 0 bedroom, 0 bathroom House. The property has a land size of 21488m2 and floor size of 112m2. While the property is not currently for sale or for rent, it was last sold in July 2023.
Last Listing description (April 2023)
Cushman & Wakefield, as exclusive agents, are pleased to offer this rare, infill redevelopment site within the tightly held Brooklyn industrial precinct. This is a lucrative development opportunity for prospective owner occupiers, developers, and investors.
Offered For Sale via an Expressions of Interest campaign, closing on the 14th of December 2022 at 4pm (AEDT).
The property comprises a single title with a total land area of 21,437sqm*. The site's configuration is highly efficient from a development perspective, given its dual crossovers on the 87m* of frontage to Somerville Rd, regular shape, and level nature. The existing improvements are wholly beyond their economic life and the site is a prime candidate for a high-quality industrial redevelopment. There is 4,466sqm* of un-developed, greenfield land at the rear (south) of the site not currently built on.
469 Somerville Road is located within the Brooklyn industrial area, which is a near fully developed precinct sitting at the traditional centre of the fast-developing western industrial corridor. This is an opportunity to leverage the site's proximity to the CBD (11km*), Port of Melbourne (7km*) and road networks. With McDonald Rd, Geelong Rd and Sunshine Rd all under 2km* from the site, the West Gate Fwy (2km*) and M80 Ring Rd (3km*) are all readily accessible.
Please contact the exclusively appointed agents from Cushman & Wakefield below for a copy of the Information Memorandum.
Approximately*
Property History for 469 Somerville Rd, Brooklyn, VIC 3012
- 24 Jul 2023Sold for $11,935,000
- 02 Nov 2022Listed for Sale Contact Agent
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0About Brooklyn 3012
The size of Brooklyn is approximately 5.5 square kilometres. It has 5 parks covering nearly 2.7% of total area. The population of Brooklyn in 2011 was 1,639 people. By 2016 the population was 1,863 showing a population growth of 13.7% in the area during that time. The predominant age group in Brooklyn is 30-39 years. Households in Brooklyn are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Brooklyn work in a professional occupation. In 2011, 59.2% of the homes in Brooklyn were owner-occupied compared with 55.9% in 2016.
Brooklyn has 1,946 properties. Over the last 5 years, Houses in Brooklyn have seen a 9.06% increase in median value, while Units have seen a 14.22% increase. As at 31 October 2024:
- The median value for Houses in Brooklyn is $812,279 while the median value for Units is $625,938.
- Houses have a median rent of $560 while Units have a median rent of $485.
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