SOLD
Sold on 02 Apr 2024 for $925,000

522 Lygon Street
Brunswick East VIC 3057

Bedrooms: -
Bathrooms: -
Car spaces: 1
Land area: 182m2
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Property Details for 522 Lygon St, Brunswick East

Building Type
Commercial
Land Size
182m2
Local Government
Merri-Bek
Lot/Plan
1/PS719865

Last Listing description (November 2023)

SECURE COMMERCIAL INVESTMENT, OFFERED WITH AN EXCELLENT RENT RETURN!!

Leo Kikyris & Steve Kikyris of Jason Commercial are pleased to offer for sale to the public market: 522 Lygon Street, Brunswick East.

This is your opportunity to secure this retail front with dual street frontage to Lygon Street and Eddy Street. Currently occupied by the popular local REWINE Wine Bar & Wholesaler this property provides you with a golden opportunity to enter the market with an established tenant with a licenced venue wine bar and retailing liquor/associated stock.

Secure the rental income now and potentially plan to occupy or develop this space in the future. Current rental income received is $55,000 per annum net, with tenants paying all outgoings/rates.

The front of the property provides a great front of house fit-out with an appreciable emphasis on the bar/point of sale lined with the many rows of wooden wine-filled casks and decorative features. There is plenty of patron seating available and retailing area too.

The rear of the premises allows for plenty of room to move around when receiving deliveries and semi-trailer drop-offs to the storage area. This is a HUGE bonus to the operators who have PLENTY OF ROOM TO MOVE via the rear Eddy Street access point.

Property includes solar panels with capacity of 5.5KW, 3-phase power, gas ready, a recently refurbished roof and new box gutters. The venue currently holds an approved liquor license to serve alcohol with patron capacity limit of 30.

All enquiries must include full first name & surname, mobile number and email address.

For a detailed discussion regarding your future purchase plans and for further information regarding this property, please feel free to contact below agent/s.

Leo Kikyris
0408 365 860
leo@jason***

Steve Kikyris
0438 143 327
steve@jason***

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Property History for 522 Lygon St, Brunswick East, VIC 3057

A timeline of how this property has performed in the market
Last Sold
$925,000
02 Apr 2024
  • 02 Apr 2024
    Sold for $925,000
  • 31 Oct 2023
    Listed for Sale Contact Agent
  • 27 Nov 2015
    Sold for $840,000
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About Brunswick East 3057

The size of Brunswick East is approximately 2.2 square kilometres. It has 18 parks covering nearly 15.2% of total area. The population of Brunswick East in 2011 was 8,477 people. By 2016 the population was 11,492 showing a population growth of 35.6% in the area during that time. The predominant age group in Brunswick East is 20-29 years. Households in Brunswick East are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Brunswick East work in a professional occupation. In 2011, 52.2% of the homes in Brunswick East were owner-occupied compared with 42.5% in 2016.

Brunswick East has 9,719 properties. Over the last 5 years, Houses in Brunswick East have seen a 23.61% increase in median value, while Units have seen a 6.60% increase. As at 30 November 2024:

  • The median value for Houses in Brunswick East is $1,425,275 while the median value for Units is $587,005.
  • Houses have a median rent of $750 while Units have a median rent of $550.
There are currently 41 properties listed for sale, and 21 properties listed for rent in Brunswick east on OnTheHouse. According to CoreLogic's data, 441 properties were sold in the past 12 months in Brunswick east.

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