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Sold on 07 May 2024 - Price Unavailable

41 Bungendore Road
Queanbeyan East NSW 2620

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1701m2
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Property Details for 41 Bungendore Rd, Queanbeyan East

Building Type
Commercial
Land Size
1701m2
Local Government
Queanbeyan-Palerang Regional

Last Listing description (September 2024)

This land is available to purchase with 3-buildings on it - Zoned as R3 Medium Density Residential

An opportunity to purchase 1,701 sqm land with 3-buildings on it, currently run partially as a motel known as “Rainbow Motel” comprising of 16-rooms in total. Eight rooms in new building and eight rooms in two older buildings.

Stage-1, built and completed in 2021 with 8-rooms to raise motel capacity.

Stage-2, there are approved plans for 10-rooms to develop.

The existing old buildings have 8-rooms, some of the rooms are being used for motel business and some of the rooms need renovation.

This land conveniently located on the edge of the Queanbeyan East industrial area just off Yass Road which links on to the Ellerton Drive Queanbeyan bypass. An opportunity like this do not come very often. Call now to inquire today.

Property Features Include:

Land with 3-buildings on it
Total Land Area: 1,701 sqm
Zoned: R3 Medium Density Residential
Total Rooms: 16 with bathrooms
Car Parking: 16 Spaces currently in use
Existing 2-older buildings Area: 222.50 sqm
Building 1 Area: 380.50 sqm - Completed in 2021
Building 2 Area: 544.40 sqm ( Plans Approved )
Current old building partially in use

An opportunity like this does not come very often. Call now to inquire today.

Property History for 41 Bungendore Rd, Queanbeyan East, NSW 2620

A timeline of how this property has performed in the market
Last Sold
07 May 2024
  • 07 May 2024
    Sold
  • 03 Oct 2023
    Listed for Sale By Negotiation

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About Queanbeyan East 2620

The size of Queanbeyan East is approximately 4.3 square kilometres. It has 12 parks covering nearly 14.5% of total area. The population of Queanbeyan East in 2011 was 3,765 people. By 2016 the population was 3,929 showing a population growth of 4.4% in the area during that time. The predominant age group in Queanbeyan East is 30-39 years. Households in Queanbeyan East are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Queanbeyan East work in a professional occupation. In 2011, 49% of the homes in Queanbeyan East were owner-occupied compared with 45.4% in 2016.

Queanbeyan East has 3,111 properties. Over the last 5 years, Houses in Queanbeyan East have seen a 43.32% increase in median value, while Units have seen a 58.69% increase. As at 30 September 2024:

  • The median value for Houses in Queanbeyan East is $820,047 while the median value for Units is $415,459.
  • Houses have a median rent of $520 while Units have a median rent of $430.
There are currently 16 properties listed for sale, and 12 properties listed for rent in Queanbeyan east on OnTheHouse. According to CoreLogic's data, 151 properties were sold in the past 12 months in Queanbeyan east.

Suburb Insights for Queanbeyan East 2620

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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.