SOLD
Sold on 01 Mar 2024 for $1,640,000

9 Armstrong Street N
Ballarat Central VIC 3350

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 420m2
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Property Details for 9 Armstrong St N, Ballarat Central

Building Type
Commercial
Land Size
420m2
Local Government
Ballarat
Lot/Plan
1/TP843374

Last Listing description (April 2024)

RWC Ballarat is excited to bring to the market a fantastic investment opportunity, which has held a long term tenant since 2012 and strong lease terms. Situated in the vibrant Armstrong Street precinct, within close proximity to fantastic food venues and just a fantastic location!

The property spans across two levels, presenting a generous building size of 735m2*. The property features multiple offices, storage and a large retail space on the ground floor as you enter the building.

This property is secured by a very well known business with a newly signed four year lease, with a further five year lease option. The lease holds provision for annual CPI rent increases, with the tenant responsible for all usual outgoings.

Building Area 735m2*

Annual Rent Income $100,300*
Four Year Lease Expiring Feb 2027
All Usual Outgoings Payable by Tenant
Favourable Annual CPI Rent Increases
Successful business occupying site since 2012
Land Area 420m2*
Commercial 1 Zone

If you would like further information about the property or to arrange an inspection, please make contact with Sam Borner on 0439 655 509 from our RWC Ballarat team.

Expressions of Interest Closing 8th December 2023 unless sold prior

* Approximately

Property History for 9 Armstrong St N, Ballarat Central, VIC 3350

A timeline of how this property has performed in the market
Last Sold
$1,640,000
01 Mar 2024
  • 01 Mar 2024
    Sold for $1,640,000
  • 14 Nov 2023
    Listed for Sale Expressions of Interest Closing 8th December 2023

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About Ballarat Central 3350

The size of Ballarat Central is approximately 3.8 square kilometres. It has 5 parks covering nearly 3.7% of total area. The population of Ballarat Central in 2011 was 5,464 people. By 2016 the population was 5,333 showing a population decline of 2.4% in the area during that time. The predominant age group in Ballarat Central is 20-29 years. Households in Ballarat Central are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Ballarat Central work in a professional occupation. In 2011, 56.8% of the homes in Ballarat Central were owner-occupied compared with 56.9% in 2016.

Ballarat Central has 4,381 properties. Over the last 5 years, Houses in Ballarat Central have seen a 20.22% increase in median value, while Units have seen a 45.78% increase. As at 30 September 2024:

  • The median value for Houses in Ballarat Central is $626,636 while the median value for Units is $409,428.
  • Houses have a median rent of $410 while Units have a median rent of $365.
There are currently 46 properties listed for sale, and 14 properties listed for rent in Ballarat central on OnTheHouse. According to CoreLogic's data, 144 properties were sold in the past 12 months in Ballarat central.

Suburb Insights for Ballarat Central 3350

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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.