FOR SALE
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5 Woodland Street
Essendon VIC 3040

Bedrooms: -
Bathrooms: -
Car spaces: 2
Floor area: 64m2
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FUTURE INVESTMENT IN PRIME LOCALE

This perfectly positioned retail shop has been leased to long established Fish & Chips operators and offers the new buyers a positive rental upside at the end of the current lease term which expires in 2026.
There is ample space for further development subject to approval from relevant authorities, and rear road access to provide easy accessibility.
This is an opportunity for the astute buyer who can look outside the box and see the future potential, and not be overly concerned about the current rent which is well below market.

Property Details for 5 Woodland St, Essendon

Building Type
Commercial
Floor Size
64m2

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About Essendon 3040

The size of Essendon is approximately 6.2 square kilometres. It has 20 parks covering nearly 8.4% of total area. The population of Essendon in 2011 was 18,852 people. By 2016 the population was 20,611 showing a population growth of 9.3% in the area during that time. The predominant age group in Essendon is 20-29 years. Households in Essendon are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Essendon work in a professional occupation. In 2011, 64% of the homes in Essendon were owner-occupied compared with 60.2% in 2016.

Essendon has 12,897 properties. Over the last 5 years, Houses in Essendon have seen a 21.21% increase in median value, while Units have seen a -3.61% decrease. As at 31 October 2024:

  • The median value for Houses in Essendon is $1,847,895 while the median value for Units is $544,365.
  • Houses have a median rent of $690 while Units have a median rent of $490.
There are currently 49 properties listed for sale, and 17 properties listed for rent in Essendon on OnTheHouse. According to CoreLogic's data, 512 properties were sold in the past 12 months in Essendon.

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Nicholas Gangemi
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Vince Demaio
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REAL ESTATE EDGE PTY
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