21-23 Stanley StreetWest Melbourne VIC 3003
Property Details for 21-23 Stanley St, West Melbourne
Last Listing description (February 2024)
Expressions of Interest Closing 16 September 2021 @ 1 pm.
Small single-storey warehouse with residential development potential (STCA) brilliantly located in Stanley Street just to the south of King Street and walking distance to Melbourne CBD, Errol Street, Flagstaff Gardens and Docklands. The warehouse boasts a frontage of over 7 metres with rear loading from the wide laneway, small office and is clear span throughout. The total building area of 163 sqm (approx) and its Mixed Use Zoning provides for future residential subdivision and development (STCA) taking advantage of the generous 4 level height limit. The property is being offered with the benefit of a short term tenancy and would suit investors, owner occupiers or developers alike. This is an opportunity that rarely presents itself and should not be missed. Inspect by Appointment Only.
Property History for 21-23 Stanley St, West Melbourne, VIC 3003
- 07 Mar 2024Sold for $1,441,000
- 16 Feb 2022Listed for Rent $36,000 / year
- 17 Sep 2021Sold for $1,501,000
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About West Melbourne 3003
The size of West Melbourne is approximately 6.7 square kilometres. It has 14 parks covering nearly 2.4% of total area. The population of West Melbourne in 2011 was 3,743 people. By 2016 the population was 5,511 showing a population growth of 47.2% in the area during that time. The predominant age group in West Melbourne is 20-29 years. Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation. In 2011, 38.9% of the homes in West Melbourne were owner-occupied compared with 34.5% in 2016.
West Melbourne has 7,555 properties. Over the last 5 years, Houses in West Melbourne have seen a 28.71% increase in median value, while Units have seen a -4.28% decrease. As at 31 July 2024:
- The median value for Houses in West Melbourne is $1,446,690 while the median value for Units is $517,290.
- Houses have a median rent of $690 while Units have a median rent of $591.
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