SOLD
Sold on 16 Nov 2023 for $2,300,000

359 Whitehorse Road
Balwyn VIC 3103

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 383m2
Sold By
Jarrod Moran
CVA PROPERTY CONSULTANTS PTY LTD
Ian Angelico
CVA PROPERTY CONSULTANTS PTY LTD
Save

Property Details for 359 Whitehorse Rd, Balwyn

Building Type
Commercial
Land Size
383m2
Local Government
Boroondara
Lot/Plan
1/TP220680

Last Listing description (November 2023)

POINT OF INTEREST:
A pillar of commercial heritage that has continually served a local purpose for nearly a century, this asset isnt just placed amongst Balwyns busiest strip the precinct was established around it. The building dates back to the 1930s when it served the community as an English, Scottish & Australian bank. And it's these origins in money that have seen the building provide good fortune to its tenants over the years. Speaking of, the current occupiers are MS & MR Kitchens, who operate three showrooms in Melbourne and bring in an income of $90,640 per annum plus GST. The commanding structure has 7.6 m* of prime main road frontage with a lower floor, heating and cooling, and a generous floor plan. There are also 6 car spaces at the rear. All the names are nearby like Woolworths, Chemist Warehouse, and multiple bank branches to comforts like McDonald's, Laurent Cafe, and Palace Cinemas the impressively high foot traffic mirrors the local demand. Head north for 3.5 km* to get onto the M3, while the 109 tram sits directly outside this site.

- 219 sqm* building area.
- 383 sqm* total land area.
- Valuable Commercial 1 Zone.
- Rental $90,640 per annum with expected future upside
- 5+5 year lease terms
- 7.6 m* frontage to Whitehorse Road.
- 1.4 km* to Canterbury railway station.
- 12 km* from Melbourne CBD.

POINT OF VIEW:
This site has seen almost a hundred years of retail prowess. The only thing more impressive is the calibre of businesses that surround it, proving that like attracts like and that goes for interested investors.

*Approx.
Pricing excludes GST

Property History for 359 Whitehorse Rd, Balwyn, VIC 3103

A timeline of how this property has performed in the market
Last Sold
$2,300,000
16 Nov 2023
Listed for Rent
$2.30k/w
05 Sep 2022
  • 16 Nov 2023
    Sold for $2,300,000
  • 16 Oct 2023
    Listed for Sale Contact Agent
  • 04 Nov 2021
    Listed for Rent - Price not available
Sign in to see more transactions

Commute Calculator

About Balwyn 3103

The size of Balwyn is approximately 4.4 square kilometres. It has 19 parks covering nearly 5% of total area. The population of Balwyn in 2011 was 12,943 people. By 2016 the population was 13,321 showing a population growth of 2.9% in the area during that time. The predominant age group in Balwyn is 10-19 years. Households in Balwyn are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Balwyn work in a professional occupation. In 2011, 72.9% of the homes in Balwyn were owner-occupied compared with 71.2% in 2016.

Balwyn has 7,404 properties.

    There are currently 16 properties listed for sale, and 11 properties listed for rent in Balwyn on OnTheHouse. According to CoreLogic's data, 312 properties were sold in the past 12 months in Balwyn.

    Suburb Insights for Balwyn 3103

    Market Insights
    Trends for Houses
    Median Value

    N/A

    -
    View Trend
    Median Growth

    N/A

    View Trend
    Median Rent

    N/A

    -
    View Trend
    Rental Yield

    N/A

    -
    View Trend


    Median Value over 1 year
    Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.
    Trends for Units
    Median Value

    N/A

    -
    View Trend
    Median Growth

    N/A

    View Trend
    Median Rent

    N/A

    -
    View Trend
    Rental Yield

    N/A

    -
    View Trend


    Median Value over 1 year
    Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.
    Neighbourhood Insights
    Age
    Household
    Occupancy
    No data to show
    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.