11/567-571 Spencer StreetWest Melbourne VIC 3003
Property Details for 11/567-571 Spencer St, West Melbourne
Last Listing description (May 2025)
Behind the stunning red-brick art-deco facade of the former Lever Brothers Pty Ltd soap factory, this modern converted warehouse office suite of 182 sqm (approx) comprises a large open plan work area, mezzanine office space, partitioned offices, bathrooms, kitchenette, and server room. Features soaring concrete ceilings, floating floors, 3 secure undercover car spaces, split system heating/cooling, two storage cages and ample northern light. Situated on the very doorstep of the CBD only a short walk to Errol Street shops and cafes, Docklands, North Melbourne Train Station and Melbourne's Legal precinct. Securely leased to a quality long-term tenant until July 2021 with further options to extend, the suite currently returns $68,472 per annum (approx.) net. Zoned Mixed Use (MUZ), the building could be converted to a future residential use (STCA). A rare opportunity to secure a superb city fringe warehouse style office investment. Inspections by appointment only.
Property History for 11/567-571 Spencer St, West Melbourne, VIC 3003
- 15 Aug 2019Sold for $1,225,000
- 02 Jul 2019Listed for Sale 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 2016 was 5515 people. By 2021 the population was 8025 showing a population growth of 45.5% 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 2021, 32.40% of the homes in West Melbourne were owner-occupied compared with 34.50% in 2016.
West Melbourne has 8,465 properties. Over the last 5 years, Houses in West Melbourne have seen a -2.68% decrease in median value, while Units have seen a -1.84% decrease. As at 31 December 2025:
- The median value for Houses in West Melbourne is $1,342,812 while the median value for Units is $507,741.
- Houses have a median rent of $630 while Units have a median rent of $610.
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