512-544 Spencer Street, West Melbourne, VIC 3003 | Property Value & History | OnTheHouse
 
OFF MARKET

512-544 Spencer Street
West Melbourne VIC 3003

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 75m2
Land area: 4245m2
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Property Details for 512-544 Spencer St, West Melbourne

Building Type
Commercial
Year Built
2022
Floor Size
75m2
Land Size
4245m2
Local Government
Melbourne
Lot/Plan
1/PS810961

Last Listing description (October 2023)

Colliers and Stonebridge are pleased to exclusively present for sale ALDI West Melbourne A brand-new Melbourne CBD fringe supermarket on a 14-year lease with fixed annual CPI increases.

Occupying 1,595sqm of the ground level of The Marker, a 195-luxury apartment mixed-use development, ALDI West Melbourne includes 62 on-title basement car bays, located only 800 metres* from the Melbourne CBD.


ALDI West Melbourne further benefits from significant frontage to Spencer Street with exposure to over 24,000* daily passing vehicles, and is the only supermarket within a 2km radium servicing the rapidly expanding and gentrifying catchment.

Key Investment Highlights:
- Brand-New Melbourne City Supermarket
- Rare 14-Year Lease with Options to 2051
- Hyper Convenient Location 800m from Melbourne CBD
- 62 Basement Car Spaces on Title
- Significant Depreciation Benefits
- Melbourne CBD Fringe's Fastest Growing Residential and Commercial Precinct

* all figures are approximate only

This exceptional city-fringe supermarket investment opportunity is being marketed by Colliers and Stonebridge via an Expressions of Interest (EOI) campaign closing Wednesday 24 May at 4pm (AEST).

For further information please contact the exclusive marketing agents:

Colliers

Tim McIntosh
0488 320 063

Mike Crittenden
0400 544 045

Stonebridge

Justin Dowers
0438 098 805

Kevin Tong
0422 848 818

Rorey James
0439 400 081

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Property History for 512-544 Spencer St, West Melbourne, VIC 3003

A timeline of how this property has performed in the market
Last Sold
$14,415,000
03 Nov 2023
  • 03 Nov 2023
    Sold for $14,415,000
  • 01 Dec 2022
    Listed for Sale Expressions Of Interest
  • 24 Aug 2022
    Sold for $749,000
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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 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 8,468 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.
There are currently 36 properties listed for sale, and 22 properties listed for rent in West melbourne on OnTheHouse. According to Cotality's data, 375 properties were sold in the past 12 months in West melbourne.

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