515-523 Spencer StreetWest Melbourne VIC 3003
Property Details for 515-523 Spencer St, West Melbourne
515-523 Spencer St, West Melbourne is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2018. The property has a land size of 453m2 and floor size of 200m2. While the property is not currently for sale or for rent, it was last sold in August 2001.
Last Listing description (November 2023)
Vinci Carbone is privileged to be able to offer for sale, the Royal Mail Hotel located at 515-523 Spencer Street, West Melbourne - a unique city fringe opportunity.
The availability of this outstanding city fringe property represents a magnificent opportunity for either owner occupiers who wish to refurbish the existing improvements or developers wanting to take advantage of this excellent location for a residential or commercial development (STCA).
Key highlights:
Refurbish existing hotel building for hospitality or refurbishto offices or retail
Redevelop into residential or office building (STCA)
Substantial landholding of 453 sqm*
Prime corner site with total frontage of over 61 metres (Spencer St, Stanley St & ROW)
Special Use Zoning
Offered with vacant possession
Rarely does a site of this size in such a highly sought after location become available for sale being within close proximity to the CBD, Hospitals, Melbourne University, Queen Victoria Market, Flagstaff Gardens, Docklands and RMIT.
*approx
Property History for 515-523 Spencer St, West Melbourne, VIC 3003
- 12 Sep 2023Listed for Rent $400 / week
- 03 Aug 2022Listed for Sale Contact Agent
- 10 Feb 2022Listed for Sale Please contact agent
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0About 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 7,567 properties. Over the last 5 years, Houses in West Melbourne have seen a 11.70% increase in median value, while Units have seen a -5.56% decrease. As at 31 August 2024:
- The median value for Houses in West Melbourne is $1,228,041 while the median value for Units is $519,370.
- Houses have a median rent of $693 while Units have a median rent of $592.
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