OFF MARKET

1/20 Glenville Drive
Melton VIC 3337

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 660m2
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Property Details for 1/20 Glenville Dr, Melton

Building Type
Commercial
Land Size
660m2
Local Government
Melton
Lot/Plan
2/PS617693

Last Listing description (June 2023)

Large warehouse with ample parking that has several features that should be attractive to potential investors looking for a better return that commercial offers.
The warehouse has an area of approximately 390m2, with an additional mezzanine level of 150m2 approx. that includes a boardroom, two office rooms and central bathroom. This provides plenty of space for tenants to use as a workspace or for storage.

The property sits on a land area of approximately 660m2, which provides ample space for parking and other outdoor uses. Additionally, the fact that it is an individual warehouse with no body corporate means that the tenant will have more autonomy over how the space is used.
The property features around approx. 60 solar panels on the roof, which helps with the ever rising costs of electricity.

The current rent for the property is $44,557.80 per annum, plus GST plus outgoings. The lease term runs until November 5th, 2023, with an option to renew for two additional two-year periods. Additionally, the rent will increase by 3% annually, which provides some security in terms of the potential for rental income growth over time.
Overall, this investment opportunity is a solid choice for investors looking for a commercial property with potential for long-term rental income growth.

Call Garry Gale 0419623559

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Property History for 1/20 Glenville Dr, Melton, VIC 3337

A timeline of how this property has performed in the market
Last Sold
$890,000
25 May 2023
Listed for Rent
05 Oct 2016
  • 25 May 2023
    Sold for $890,000
  • 16 May 2023
    Listed for Sale Contact Agent
  • 06 Apr 2016
    Listed for Rent - Price not available
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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 5,168 properties. Over the last 5 years, Houses in Melton have seen a 22.11% increase in median value, while Units have seen a 23.33% increase. As at 30 November 2024:

  • The median value for Houses in Melton is $474,970 while the median value for Units is $375,335.
  • Houses have a median rent of $400 while Units have a median rent of $380.
There are currently 53 properties listed for sale, and 24 properties listed for rent in Melton on OnTheHouse. According to CoreLogic's data, 219 properties were sold in the past 12 months in Melton.

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