![]() Asset Class: | Retail |
![]() Price: | $ 1700000 |
![]() Net Yield: | 6.00 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | On Market |
<p class="mb-4">57 Melville Rd presents an exceptional investment opportunity in the thriving suburb of Brunswick West. This well-positioned commercial property currently operates as a successful pizzeria and restaurant precinct, delivering immediate income while offering significant future development potential. </p><p class="mb-4">Situated on a generous 491m² land parcel with Commercial 1 Zone (C1Z) classification, this asset delivers a secure rental income of $118,976 per annum plus GST through a well-structured 3x3x3 year lease arrangement. What truly sets this property apart is its approved development plans for nine high-end residential apartments, comprising eight two-bedroom units and one luxury three-bedroom penthouse. This provides investors with excellent flexibility – continue benefiting from the stable retail income stream or pursue the approved residential development to potentially maximize returns. </p><p class="mb-4">Located just 6km from Melbourne's CBD, the property benefits from its position on bustling Melville Road with excellent exposure, public transport access, and proximity to essential amenities including schools, shopping centres, and recreational facilities. Brunswick West continues to experience strong rental demand and consistent capital growth, making this a compelling investment in one of Melbourne's most vibrant communities.</p>
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<p class="mb-4">Located just 6 km north of Melbourne’s central business district (CBD), Brunswick West is a vibrant and evolving suburb that offers a mix of residential, commercial, and community-focused spaces. The suburb is a popular choice for young professionals, families, and students due to its affordable housing, excellent public transport links, and proximity to the CBD. With a growing number of cafes, restaurants, and local shops, Brunswick West is rapidly becoming a sought-after location for those looking for a blend of urban convenience and a laid-back atmosphere.</p><p class="mb-4">Brunswick West has a population of approximately 24,000 people, and the area is seeing steady growth due to its appealing lifestyle and proximity to key employment and entertainment hubs.</p><p class="mb-4"></p><p class="mb-4"><strong>Transport & Connectivity</strong></p><p class="mb-4"></p><p class="mb-4">Brunswick West is well-connected by public transport, making it an attractive location for commuters. The suburb is serviced by tram routes 19 and 58, offering direct links to the CBD and surrounding suburbs. The Upfield Train Line is also easily accessible via the Brunswick Railway Station, ensuring convenient access to Melbourne’s major transit network. The proximity to the CityLink freeway makes it easy to drive to surrounding suburbs or Melbourne Airport, further enhancing Brunswick West’s connectivity.</p><p class="mb-4"></p><p class="mb-4"><strong>Retail & Commercial Activity</strong></p><p class="mb-4"></p><p class="mb-4">Brunswick West offers a growing retail scene, with Sydney Road running through the suburb. This busy strip features a variety of local cafes, boutiques, and specialty stores, which are becoming increasingly popular with locals and visitors alike. The suburb’s blend of local shops and larger retailers provides residents with ample shopping choices. Additionally, Melville Road is home to a variety of restaurants and takeaway shops, adding to the suburb’s charm and local flavour.</p><p class="mb-4"></p><p class="mb-4"><strong>Education & Employment Hubs</strong></p><p class="mb-4"></p><p class="mb-4">Brunswick West is in close proximity to several major educational institutions, including RMIT University and the University of Melbourne, making it an attractive suburb for students. The area is also near the Melbourne Biomedical Precinct, which houses important hospitals such as The Royal Melbourne Hospital and The Royal Children’s Hospital, offering strong employment opportunities in healthcare and research.</p><p class="mb-4">Additionally, Brunswick West’s location near Melbourne’s CBD and key employment zones makes it ideal for young professionals who want to live near work without the high cost of CBD housing.</p><p class="mb-4"></p><p class="mb-4"><strong>Residential & Investment Appeal</strong></p><p class="mb-4"></p><p class="mb-4">Brunswick West offers a variety of housing options, ranging from Victorian-style houses and apartment complexes to modern townhouses. The suburb is popular with both young professionals and families due to its mix of affordable housing, lifestyle amenities, and convenient location. The median house price in Brunswick West is approximately $1.2 million, while apartments typically range from $550,000 to $650,000. The suburb’s strong rental demand is due to its proximity to the CBD, universities, and healthcare precincts, making it an appealing location for investors.</p><p class="mb-4"></p><p class="mb-4"><strong>Future Growth & Developments</strong></p><p class="mb-4"></p><p class="mb-4">Brunswick West is experiencing ongoing urban renewal, particularly in areas close to major public transport hubs like Brunswick Station and along Sydney Road. The suburb is set to see continued residential and commercial development, which will likely drive property values upward. Additionally, the Metro Tunnel Project is expected to improve public transport connections, further enhancing the suburb’s attractiveness for investors and residents alike.</p><p class="mb-4"></p><p class="mb-4"><strong>Why Invest in Brunswick West?</strong></p><p class="mb-4">• Proximity to the CBD: Just 6 km from Melbourne’s city center, offering strong rental demand and capital growth.</p><p class="mb-4">• Excellent Transport Links: Well-served by trams, buses, and train lines, ensuring easy access to the CBD and beyond.</p><p class="mb-4">• Strong Local Amenities: A growing number of cafes, shops, and restaurants provide a vibrant lifestyle in close proximity to home.</p><p class="mb-4">• Affordability & Growth Potential: Brunswick West offers more affordable housing options compared to other inner-city suburbs, with significant growth potential due to ongoing urban renewal.</p><p class="mb-4">• High Rental Demand: Proximity to universities, healthcare precincts, and the CBD ensures strong rental demand and long-term value.</p>
Additional Location Information File<p class="mb-4"><strong>Roy’s on Melville</strong> is a well-established and popular local pizza restaurant located in the heart of Brunswick West on Melville Road. Boasting a fully equipped commercial kitchen with a traditional wood-fired pizza oven, this thriving pizzeria has been serving the community for over 10 years, earning a loyal following for its delicious, high-quality pizzas and inviting atmosphere. </p><p class="mb-4">With its strong reputation and consistent success, Roy’s on Melville continues to be a beloved dining destination in the area.</p>
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<p class="mb-4">Roy's on Melville offers an attractive financial proposition with <strong>multiple income pathways</strong> for the astute investor:</p><ul class="bullet-list"><li><p class="mb-4">Current rental income: $118,976 per annum + GST</p></li><li><p class="mb-4">Secure lease arrangement: 3x3x3 year structure with built-in rent reviews</p></li><li><p class="mb-4">Initial ROI: Starting from 6% based on current lease terms</p></li><li><p class="mb-4">ROI growth: 4% annual increases </p></li><li><p class="mb-4">Development potential: Significant upside through the approved residential project</p></li><li><p class="mb-4">Market dynamics: Brunswick West's rental yields for units average 4.4%, exceeding the current property's return</p></li><li><p class="mb-4">Capital growth: The area has demonstrated consistent property value appreciation</p></li></ul><p class="mb-4">This investment presents the rare opportunity to secure both <strong>immediate cash flow stability</strong> and <strong>long-term capital appreciation potential</strong>, providing flexibility for various investment strategies.</p>
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<ul class="bullet-list"><li><p class="mb-4">1/34 Union Street, Brunswick - $43,956 100sqm $440psqm</p></li><li><p class="mb-4">113 Lygon Street, Brunswick East - $67,500 150sqm $450psqm</p></li><li><p class="mb-4">9 Wilson Av, Brunswick - $69,000 126sqm $548psqm</p></li><li><p class="mb-4">822 Sydney Road, Brunswick - $40,000 96sqm $417psqm</p></li><li><p class="mb-4">1 Wilson Avenue, Brunswick - $35,000 68sqm $515psqm</p></li><li><p class="mb-4">1, 216 Albion Street, Brunswick - $49,500 115sqm $430psqm </p></li><li><p class="mb-4">2/638 High Street, Thornbury - $44,275 85sqm $521psqm</p></li><li><p class="mb-4">334A High Street, Northcote - $40,803 72sqm $567psqm</p></li></ul>
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<ul class="bullet-list"><li><p class="mb-4">Prime location on bustling Melville Road with excellent visibility and foot traffic</p></li><li><p class="mb-4">Substantial 491m² land parcel in a coveted Commercial 1 Zone</p></li><li><p class="mb-4"> 250m² Floor area</p></li><li><p class="mb-4">Strong current rental income of $118,976 per annum + GST</p></li><li><p class="mb-4">Secure tenant with 3x3x3 year lease structure providing income stability, commencing May 2022 (tenant to exercise next option)</p></li><li><p class="mb-4">Approved development plans and permits for 9 luxury residential apartments</p></li><li><p class="mb-4">6km from Melbourne's CBD with excellent transport connectivity</p></li><li><p class="mb-4">Located in a high-demand suburb with consistent capital growth</p></li><li><p class="mb-4">Versatile investment opportunity offering both immediate income and development potential</p></li><li><p class="mb-4">Ready-to-execute project with all necessary approvals in place</p></li></ul>