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53 Bay Street
Port Melbourne VIC 3207

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Blue Chip Location

Prime Bay Street position with direct exposure to the main road and a high volume of vehicles passing daily.
Property Features:
- Building area | 325m2 approximately
- Zoning | Commercial 1
- Current Tenant is a big medical group.
- Lease, 5 years commenced 1 Dec 2017
- Lease renewal 1 Dec 2022 , 5 years with further terms 5 x 5
- Modern fit-out
- 9 offices/ rooms, large reception area, 3 toilets, 1 staff room, 2 storage and 2 small rooms for multi-use
- Rental Return : $ 11,433.10 per calendar month/ $ 137,197.2 per PA including GST Plus outgoing
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Property Details for 53 Bay St, Port Melbourne

Building Type
Commercial

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About Port Melbourne 3207

The size of Port Melbourne is approximately 10.1 square kilometres. It has 34 parks covering nearly 11.2% of total area. The population of Port Melbourne in 2011 was 14,521 people. By 2016 the population was 16,168 showing a population growth of 11.3% in the area during that time. The predominant age group in Port Melbourne is 30-39 years. Households in Port Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Port Melbourne work in a professional occupation. In 2011, 50.9% of the homes in Port Melbourne were owner-occupied compared with 50.5% in 2016.

Port Melbourne has 13,338 properties. Over the last 5 years, Houses in Port Melbourne have seen a 2.20% increase in median value, while Units have seen a -0.60% decrease. As at 30 November 2024:

  • The median value for Houses in Port Melbourne is $1,600,192 while the median value for Units is $844,622.
  • Houses have a median rent of $825 while Units have a median rent of $695.
There are currently 21 properties listed for sale, and 15 properties listed for rent in Port melbourne on OnTheHouse. According to CoreLogic's data, 491 properties were sold in the past 12 months in Port melbourne.

Suburb Insights for Port Melbourne 3207

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Theresa Huynh
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CENTURY 21 Theresa Huynh
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.