SOLD
Sold on 22 Mar 2024 for $845,000

1/6-8 Gloucester Avenue
Berwick VIC 3806

Bedrooms: -
Bathrooms: -
Car spaces: 2
Floor area: 56m2
Land area: 243m2
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Property Details for 1/6-8 Gloucester Ave, Berwick

Building Type
Commercial
Floor Size
56m2
Land Size
243m2
Local Government
Casey
Lot/Plan
1/SP22426

Last Listing description (May 2022)

A rare opportunity to purchase an investment in the tightly held Berwick Village Precinct. This office and garage have a passing rent of $52,800. With a strong rent increase next year and the risk spread across 3 tenancies, this is an affordable investment that should be seriously considered for your property portfolio. Further information available.

Property History for 1/6-8 Gloucester Ave, Berwick, VIC 3806

A timeline of how this property has performed in the market
Last Sold
$845,000
22 Mar 2024
Listed for Rent
$345/w
19 Dec 2013
  • 22 Mar 2024
    Sold for $845,000
  • 16 Dec 2022
    Sold for $815,000
  • 28 Mar 2022
    Listed for Sale $895,000
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About Berwick 3806

The size of Berwick is approximately 33.6 square kilometres. It has 72 parks covering nearly 10.3% of total area. The population of Berwick in 2011 was 44,779 people. By 2016 the population was 47,677 showing a population growth of 6.5% in the area during that time. The predominant age group in Berwick is 40-49 years. Households in Berwick are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Berwick work in a professional occupation. In 2011, 78% of the homes in Berwick were owner-occupied compared with 75.4% in 2016.

Berwick has 23,297 properties. Over the last 5 years, Houses in Berwick have seen a 32.90% increase in median value, while Units have seen a 29.56% increase. As at 31 October 2024:

  • The median value for Houses in Berwick is $925,189 while the median value for Units is $678,185.
  • Houses have a median rent of $600 while Units have a median rent of $530.
There are currently 145 properties listed for sale, and 64 properties listed for rent in Berwick on OnTheHouse. According to CoreLogic's data, 1036 properties were sold in the past 12 months in Berwick.

Suburb Insights for Berwick 3806

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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.