FOR SALE
P.O.A.

369B Springvale Road
Springvale VIC 3171

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 62m2
Land area: 112m2
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High Profile Springvale Investment

Opportunity to invest in the Springvale CBD doesn't come along every day.
369B Springvale Rd gives you the chance to invest in the progressive vibrant outer eastern suburb of Springvale. Springvale's development in recent years has gone ahead in leaps and bounds with a mix of retail shops and apartment blocks within its CBD. With a noticable increase in the number of professional service providers and medical clincs, a new underground railway station reducing traffic congestion on Springvale Rd leading to better traffic flow are just a few examples. In addition, community support from the local council includes the staging of several cultural and seasonal festivals during the year attracting a mix of people from all over Melbourne, boosting the suburbs appeal.
The current tenant is a branch office of a large group of personal injury lawyers providing legal services and advice to people injured at work, in a motor vehicle or anywhere else. This branch office spreads over 3 shops on the corner of Springvale Rd and Union Grove.
Leased at 3 x 3 x 3. Commenced in Oct 2022 at $39600 pcm including GST.
Terms includes 3% annual rental increase.
Springvale Overview
The suburb of Springvale is approximately 11 square kilometres and incorporates 14 parks covering nearly 3.8% of total area. Springvale's population in 2011 was 19,770 people increasing to 21,697 by 2016 showing a population growth of 9.7% in the area during that time. The predominant age group in Springvale is 20-29 years. Households in Springvale are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments with most engaged as labourers. The percentage of owner-occupied homes in Springvale in 2011 was 57.4% increasing to 56.2% in 2016. Current median sales price of houses in the area is $880,000.

Property Details for 369b Springvale Rd, Springvale

Building Type
Commercial
Floor Size
62m2
Land Size
112m2

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About Springvale 3171

The size of Springvale is approximately 11 square kilometres. It has 14 parks covering nearly 3.8% of total area. The population of Springvale in 2011 was 19,770 people. By 2016 the population was 21,697 showing a population growth of 9.7% in the area during that time. The predominant age group in Springvale is 20-29 years. Households in Springvale are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Springvale work in a labourer occupation. In 2011, 57.4% of the homes in Springvale were owner-occupied compared with 56.2% in 2016.

Springvale has 11,013 properties. Over the last 5 years, Houses in Springvale have seen a 25.57% increase in median value, while Units have seen a 23.63% increase. As at 31 July 2024:

  • The median value for Houses in Springvale is $885,712 while the median value for Units is $577,667.
  • Houses have a median rent of $543 while Units have a median rent of $480.
There are currently 82 properties listed for sale, and 43 properties listed for rent in Springvale on OnTheHouse. According to CoreLogic's data, 334 properties were sold in the past 12 months in Springvale.

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Suburb Insights for Springvale 3171

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CENTURY 21 Theresa Huynh
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