SOLD
Sold on 27 Aug 2024 for $1,400,000

91 Tanner Street
Breakwater VIC 3219

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2842m2
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Property Details for 91 Tanner St, Breakwater

Building Type
Commercial
Land Size
2842m2
Local Government
Greater Geelong
Lot/Plan
3/PS737606

Last Listing description (February 2019)

The building is nearing completion and whats better than already having an excellent tenant from day one! With a 6.5% return locked in for the first three years, plus GST, plus outgoings. (3 x3 lease) $162,500 per annum plus GST/outgoings. I know where I would rather put my money as the financial institutions are paying around 2.5-3% on term deposits, here you will earn double that! Plus!
2842m2 titled land
Brand new purpose-built warehouse with initial 3 x 3 year terms

Brand new building with great depreciation potential. Quantity Survey Available from Agent.
First 3 years locked in at 6.5% return on $2.5million = $162,500 plus GST & outgoings paid by tenant
Lease will be in place so GST on sale is not applicable
Would suit family super fund, financial investors, financial institutions, etc.
Being only a segment of an existing business there may be other opportunities for the purchaser to pursue open to discussion
Inspection by appointment only.

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Property History for 91 Tanner St, Breakwater, VIC 3219

A timeline of how this property has performed in the market
Last Sold
$1,400,000
27 Aug 2024
  • 27 Aug 2024
    Sold for $1,400,000
  • 31 Mar 2018
    Listed for Sale Not Disclosed

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About Breakwater 3219

The size of Breakwater is approximately 3.1 square kilometres. It has 7 parks covering nearly 32% of total area. The population of Breakwater in 2011 was 1,059 people. By 2016 the population was 1,030 showing a population decline of 2.7% in the area during that time. The predominant age group in Breakwater is 20-29 years. Households in Breakwater are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Breakwater work in a trades occupation. In 2011, 62.4% of the homes in Breakwater were owner-occupied compared with 60.8% in 2016.

Breakwater has 1,117 properties. Over the last 5 years, Houses in Breakwater have seen a 28.22% increase in median value, while Units have seen a 7.06% increase. As at 30 November 2024:

  • The median value for Houses in Breakwater is $627,978 while the median value for Units is $427,030.
  • Houses have a median rent of $430 while Units have a median rent of $375.
There are currently no properties listed for sale, and 2 properties listed for rent in Breakwater on OnTheHouse. According to CoreLogic's data, 37 properties were sold in the past 12 months in Breakwater.

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