2 Village CrescentWestmeadows VIC 3049
Property Details for 2 Village Cres, Westmeadows
Last Listing description (April 2023)
POINT OF INTEREST:
A clean and simple opportunity nestled within Melbournes northern suburbs is the type of asset youll forget you have in your portfolio until you see the return on investment each and every month. The building itself is sitting at 240 sqm*, with Erinbank Convenience Store occupying the site and servicing the Westmeadows people for the past fourteen years. Theyre staying put for at least another four years with options to renew, and theres also an annual increase to the rent as part of the agreement lining your pockets now and into the future. But if developing the site into something new is on your radar, there are plenty of options to break new ground (STCA).
- 240 sqm* building area.
- General residential 1 zoning.
- Heating and cooling throughout.
- Currently tenanted to Erinbank Convenience Store.
- Returning $42,034 per annum plus outgoings and GST.
- New 4 year lease term commencing 28th June 2022
- Twofurther 4 year terms.
- CPI annual increase.
- 1.5 km* from Broadmeadows railway station.
- 16.3 km* to Melbourne CBD.
POINT OF VIEW:
Small-town charm with a half hour drive to the CBD, retail in Westmeadows is fiercely local. What were saying is that this site will always be in demand by the residents that surround it, so the value only increases without ever having to lift a finger.
*Approx.
Pricing excludes GST
Property History for 2 Village Cres, Westmeadows, VIC 3049
- 08 Nov 2023Sold for $860,000
- 03 Mar 2022Listed for Sale Contact Agent
- 04 Mar 2008Listed for Sale sold
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0About Westmeadows 3049
The size of Westmeadows is approximately 4.8 square kilometres. It has 12 parks covering nearly 33.6% of total area. The population of Westmeadows in 2011 was 5,522 people. By 2016 the population was 5,846 showing a population growth of 5.9% in the area during that time. The predominant age group in Westmeadows is 20-29 years. Households in Westmeadows are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Westmeadows work in a clerical occupation. In 2011, 77.2% of the homes in Westmeadows were owner-occupied compared with 74.1% in 2016.
Westmeadows has 3,269 properties.
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