405-407 Spencer Street, West Melbourne, VIC 3003 sold on 02 May 2025 | OnTheHouse
SOLD
Sold on 02 May 2025 for $26,112,427

405-407 Spencer Street
West Melbourne VIC 3003

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 743m2
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Property Details for 405-407 Spencer St, West Melbourne

Building Type
Commercial
Land Size
743m2
Local Government
Melbourne
Lot/Plan
1/TP802337

Last Listing description (November 2023)

Jones Real Estate and Cushman & Wakefield are pleased to offer for sale an exquisitely designed permit approved landholding known as 'Dalston House' at 405-421 Spencer Street corner Batman Street, West Melbourne.

For Sale via International Expressions of Interest closing Wednesday 6th September 2023 at 12pm (AEST).

Key details of the opportunity include:

- A high-profile corner site of 1,683sqm* less than 300* metres from the Melbourne CBD.

- Permit approved for a single tower mixed-use project comprising GFA of 19,615sqm*.

- Combined street frontage of over 133* metres to Spencer, Batman and Middleton Place.

- Unrepeatable planning outcome which caters for traditional apartments, build-to-rent, co-living, student accommodation, retirement living and/or medical uses^.

- Highly desirable position which is set to benefit from major urban regeneration under the new West Melbourne and Arden Structure Plan providing a thriving new neighbourhood.

- Located on the cusp of the CBD, offering direct access to Melbourne's Health, Biomedical & Education Precincts.

- A rare opportunity to secure a permit approved site of significant scale within Melbourne's booming CBD and fringe market.

*Approx.
^Subject to council approval

To obtain further information or to arrange an inspection, please contact the exclusive selling agents.

Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.

Property History for 405-407 Spencer St, West Melbourne, VIC 3003

A timeline of how this property has performed in the market
Last Sold
$26,112,427
02 May 2025
Listed for Rent
$1.50k/w
30 Jul 2021
  • 02 May 2025
    Sold for $26,112,427
  • 11 Aug 2023
    Listed for Sale Under Offer
  • 12 Oct 2022
    Listed for Sale Please contact agent
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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 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 8,470 properties. Over the last 5 years, Houses in West Melbourne have seen a -3.06% decrease in median value, while Units have seen a 0.58% increase. As at 30 November 2025:

  • The median value for Houses in West Melbourne is $1,279,634 while the median value for Units is $516,591.
  • Houses have a median rent of $625 while Units have a median rent of $600.
There are currently 36 properties listed for sale, and 18 properties listed for rent in West melbourne on OnTheHouse. According to Cotality's data, 369 properties were sold in the past 12 months in West melbourne.

Suburb Insights for West Melbourne 3003

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Cotality Copyright and Legal Disclaimers about Property Data
Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.