GROUND FLOOR/470 Spencer Street, West Melbourne, VIC 3003 | Property Value & History | OnTheHouse
OFF MARKET

GROUND FLOOR/470 Spencer Street
West Melbourne VIC 3003

Bedrooms: 2
Bathrooms: -
Car spaces: -
Land area: 197m2
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Property Details for Ground Floor/470 Spencer St, West Melbourne

Building Type
Commercial
Land Size
197m2
Local Government
Melbourne
Lot/Plan
1/TP748397

Last Listing description (November 2023)

Versatile Corner Exposition
- Embrace Ownership, Reinvent, or Invest
- Exceptional Location a Merely 500M* from CBD Heart

Nestled at 470 Spencer Street in West Melbourne, this striking two-level corner building unveils a golden prospect for immediate owner occupancy or the promise of elevating its worth through strategic enhancements.

Pivotal Aspects of the Offering:

Prominent corner building offering a blank canvas, poised for various future usages including serving as a culinary haven (restaurant/takeaway shop), as an office hub or a value-amplifying investment.

Commanding and conspicuous, the corner structure boasts an expansive combined facade of 40m* bordering Spencer Street, Rosslyn Street, and the rear laneway. This layout guarantees exceptional visibility for business signage and multiple entry points (STCA - subject to necessary approvals).

Seamless transportation connectivity through direct links to Southern Cross Railway Station - Melbourne's paramount transit nexus - and easy access to the La Trobe Street tram network, Docklands waterfront, sports precinct, Flagstaff Gardens, Errol Street, and Queen Victoria Market, all conveniently within walking distance.

Positioned adjacent to the thriving western sector of Melbourne's CBD, poised to thrive from over $3 billion in private and public investments.

Enveloped by world-class educational institutions, retail enclaves, entertainment venues, and residential comforts.

Securing a corner freehold building in a rapidly developing locale is an exceedingly rare and highly coveted opportunity.

For Further Details, Reach Out to DI PETTA GROUP
Pioneers in PROPERTY SALES across Victoria, Queensland, and the Globe

Connect with Samuel Tawadrous at m: 0405 160 194 for additional insights and to arrange an inspection.

Property History for Ground Floor/470 Spencer St, West Melbourne, VIC 3003

A timeline of how this property has performed in the market
Last Sold
$2,530,000
24 Nov 2023
Listed for Rent
$1.25k/w
22 Sep 2016
  • 24 Nov 2023
    Sold for $2,530,000
  • 16 Aug 2023
    Listed for Sale $2,700,000
  • 30 May 2016
    Listed for Rent $65,000 / year
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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 8,467 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, 374 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.