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Shop11 308-310 Springvale Road
Springvale VIC 3171

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 206m2
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Shop 11

Total floor area of approximately 206m2, sub-divided to create 2 shops.
Shop 11 is part of a group of Springvale shops providing various goods and services to the public. The high-profile position on Springvale Road, near to a Woolworths supermarket and associated large car park at the rear make it easy for passing traffic to access these shops.
In addition, many nearby residents frequent the area for work and shopping, be it for groceries, clothing, or dining. In addition, staff from nearby State Government offices and service providers, plus local government offices also frequent the area for similar reason.
Other businesses in the area include solicitors/conveyancers, accounting firms, medical and dental practitioners along with other specialist services. There are both primary and secondary schools within walking distance of the shopping complex.
Shop 11 has been partitioned to create additional floor space for the two long term neighbouring tenants and provide a good return on investment.
Yoon's Grill (approx103.1m2)
Current Lease commenced 1 August 2023 for a 5-year term with a 4% annual rent increase with 2 additional 5-year terms available. Current rental $60,500.00pa (Inc. GST) and 50% of all building out-goings, insurance and other requirements as specified within the lease agreement.
Indian Town Grocery Store
Current lease commenced December 2020 with a 3-year term and a 4% annual rent increase included with an option to extend for a further 3 years. Current rental $53,558.40 pa (Inc. GST) with the tenant responsible for 50% of all building outgoings, insurance and other requirements as specified within the lease agreement.
Total Income $114,058.40pa inclusive of GST. Tenants responsible for all outgoings.
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Property Details for Shop11 308-310 Springvale Road, Springvale

Building Type
Commercial
Floor Size
206m2

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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 11,097 properties. Over the last 5 years, Houses in Springvale have seen a 21.81% increase in median value, while Units have seen a 23.13% increase. As at 31 August 2024:

  • The median value for Houses in Springvale is $873,867 while the median value for Units is $595,941.
  • Houses have a median rent of $550 while Units have a median rent of $500.
There are currently 77 properties listed for sale, and 31 properties listed for rent in Springvale on OnTheHouse. According to CoreLogic's data, 344 properties were sold in the past 12 months in Springvale.

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