2 Village Crescent, Westmeadows, VIC 3049 | Property Value & History | OnTheHouse
 
OFF MARKET

2 Village Crescent
Westmeadows VIC 3049

Bedrooms: 4
Bathrooms: -
Car spaces: -
Floor area: 126m2
Land area: 943m2
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Property Details for 2 Village Cres, Westmeadows

Building Type
Commercial
Floor Size
126m2
Land Size
943m2
Local Government
Hume
Lot/Plan
1/PS331845

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.

- Corner location with a total of 49.1 metres* frontage.
- 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

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Property History for 2 Village Cres, Westmeadows, VIC 3049

A timeline of how this property has performed in the market
Last Sold
$860,000
08 Nov 2023
  • 08 Nov 2023
    Sold for $860,000
  • 03 Mar 2022
    Listed for Sale Contact Agent
  • 04 Mar 2008
    Listed for Sale sold
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About 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 2016 was 5848 people. By 2021 the population was 6502 showing a population growth of 11.2% in the area during that time. The predominant age group in Westmeadows is 30-39 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 professional occupation.In 2021, 72.20% of the homes in Westmeadows were owner-occupied compared with 74.10% in 2016.

Westmeadows has 3,357 properties. Over the last 5 years, Houses in Westmeadows have seen a 27.63% increase in median value, while Units have seen a 24.11% increase. As at 30 November 2025:

  • The median value for Houses in Westmeadows is $798,514 while the median value for Units is $619,199.
  • Houses have a median rent of $530 while Units have a median rent of $550.
There are currently 5 properties listed for sale, and 3 properties listed for rent in Westmeadows on OnTheHouse. According to Cotality's data, 127 properties were sold in the past 12 months in Westmeadows.

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© Copyright 2025. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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