613 Magill RoadMagill SA 5072
Property Details for 613 Magill Rd, Magill
Last Listing description (March 2018)
Set amongst the eastern suburbs, this presents a highly sought after leased investment opportunity which is set to appeal to all investors in the market.
Currently leased to Sorelle Restaurant on a five year lease expiring April 2018, the net income is $89,842 p.a. There are two further five year options.
Free standing building of some 353 sqm* with exposure to Magill Road.
Located amongst an area that is undergoing significant revitalisation and rapid growth.
Ample off-street parking for staff, visitors and clientele surrounds the property
Modern building and dcor throughout which flows through to an outstanding outdoor alfresco area at the rear of the restaurant
Investment opportunities in such strong and well recognised eastern suburbs locations providing significant returns are hard to come by.
For Sale via Private Treaty - asking price $1,350,000 (all genuine offers presented)
Under instructions from receivers BRI Ferrier
*approximately
Property History for 613 Magill Rd, Magill, SA 5072
- 24 Aug 2016Sold for $1,250,000
- 01 Feb 2016Listed for Sale Not Disclosed
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0About Magill 5072
The size of Magill is approximately 3.5 square kilometres. It has 18 parks covering nearly 6.4% of total area. The population of Magill in 2011 was 8,229 people. By 2016 the population was 8,845 showing a population growth of 7.5% in the area during that time. The predominant age group in Magill is 30-39 years. Households in Magill are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Magill work in a professional occupation. In 2011, 63.3% of the homes in Magill were owner-occupied compared with 65.1% in 2016.
Magill has 4,907 properties. Over the last 5 years, Houses in Magill have seen a 78.38% increase in median value, while Units have seen a 65.87% increase. As at 30 November 2024:
- The median value for Houses in Magill is $1,180,608 while the median value for Units is $622,141.
- Houses have a median rent of $630 while Units have a median rent of $490.
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