8/42-46 Vella DriveSunshine West VIC 3020
Property Details for 8/42-46 Vella Dr, Sunshine West
Last Listing description (June 2023)
Village Cinemas Food Factory, Producing all Gold Class Food
+ Renewed Three (3) year lease to February 2025 plus options to 2034.
+ Village Cinemas: one of Australia's largest cinema operators.
+ The one and only food production facility for Village Cinemas in Victoria, producing all Gold Class food including Popcorn and Choc Tops for distribution across the state.
+ Fixed 3% annual rent increases assuring growth.
+ Rarely offered 755sqm 'food factory' with high value fit out including commercial kitchen, cool stores, office, high RSD + 4 car spaces.
+ Booming industrial sector with current record low vacancy rates of 5% nationally and 2.7% in Melbourne.**
+ Ideal for distribution, strategically situated just off busy Somerville Road, with easy access to Western Ring Road, Westgate Freeway, Princes Highway and Port of Melbourne.
+ Situated in the City of Brimbank which has a GRP of $10.58B, representing 2.24% of the states GSP, with manufacturing being the largest industry by employment. ***
+ Sunshine West: established inner metro industrial suburb only 10km from Melbourne CBD.
+ Net Income: $84,975pa + GST
For Sale by Private Treaty
*Approx
**Westpac Property Report
***Economy ID
Property History for 8/42-46 Vella Dr, Sunshine West, VIC 3020
- 02 Mar 2023Listed for Sale Please contact agent
- 12 Apr 2022Listed for Sale 1,900,000.00
- 19 Nov 2018Listed for Rent - Price not available
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About Sunshine West 3020
The size of Sunshine West is approximately 9.6 square kilometres. It has 22 parks covering nearly 7.5% of total area. The population of Sunshine West in 2011 was 16,742 people. By 2016 the population was 18,582 showing a population growth of 11.0% in the area during that time. The predominant age group in Sunshine West is 20-29 years. Households in Sunshine West are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Sunshine West work in a labourer occupation. In 2011, 72.2% of the homes in Sunshine West were owner-occupied compared with 67.7% in 2016.
Sunshine West has 8,493 properties. Over the last 5 years, Houses in Sunshine West have seen a 10.39% increase in median value, while Units have seen a 17.62% increase. As at 30 November 2024:
- The median value for Houses in Sunshine West is $695,750 while the median value for Units is $551,755.
- Houses have a median rent of $470 while Units have a median rent of $475.
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