SOLD
Sold on 19 Dec 2023 for $2,915,000

742 Sydney Road
Coburg North VIC 3058

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1646m2
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Property Details for 742 Sydney Rd, Coburg North

Building Type
Land
Land Size
1646m2
Local Government
Merri-Bek
Lot/Plan
2/LP7329

Last Listing description (October 2023)

Under Offer - All enquiries please contact Matt Hoath on 0418 543 714 or Rory White 0439 655 504

Substantial landholding in Melbourne's burgeoning north.

GrayJohnson is pleased to offer for sale by expressions of interest this site of 1,646 sqm* in an up-and-coming suburb in Melbourne's north. Coburg North has recently seen a rise in median prices for townhouses and houses. A range of mixed-use projects, including the Pentridge urban village, are transforming the northern suburbs and contributing to the re-gentrification of the area.

The size of this landholding and its location on the Sydney Road tramline give it outstanding potential as a future residential development of up to three storeys^.

The zoning of General Residential Zone - Schedule 1 (GRZ1) also allows for community uses such as a childcare centre, aged care centre or healthcare facility^.

The existing improvements consist of a single storey, solid brick building constructed in the early 1990s. Currently containing 12 single bedrooms, six bathrooms, four sitting rooms and an office, the building could be renovated and reconfigured for a range of uses. The site currently includes a carport accommodating four cars.

The opportunity:
Develop or re-purpose^
1,646sqm* total land area
Wide frontage to Sydney Road of 25 metres*
Existing single-storey building

The location:
Growth area in Melbourne's north
Adjacent to Merri Creek parklands and bike trail
9km* north of Melbourne CBD
Easy access to main arterial networks and CBD
Sydney Road tram at the door
Minutes to major retailers (Coles, Bunnings, Officeworks, Aldi)

EOI closing Tuesday 18 July @ 11 am

*approx
^STPA

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Property History for 742 Sydney Rd, Coburg North, VIC 3058

A timeline of how this property has performed in the market
Last Sold
$2,915,000
19 Dec 2023
  • 19 Dec 2023
    Sold for $2,915,000
  • 01 Jun 2023
    Listed for Sale Contact Agent
  • 19 Jun 2013
    Transferred
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About Coburg North 3058

The size of Coburg North is approximately 4.9 square kilometres. It has 20 parks covering nearly 18.4% of total area. The population of Coburg North in 2011 was 6,575 people. By 2016 the population was 7,615 showing a population growth of 15.8% in the area during that time. The predominant age group in Coburg North is 30-39 years. Households in Coburg North are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Coburg North work in a professional occupation. In 2011, 66.7% of the homes in Coburg North were owner-occupied compared with 66% in 2016.

Coburg North has 5,166 properties. Over the last 5 years, Houses in Coburg North have seen a 24.31% increase in median value, while Units have seen a 16.38% increase. As at 31 October 2024:

  • The median value for Houses in Coburg North is $1,040,559 while the median value for Units is $692,586.
  • Houses have a median rent of $600 while Units have a median rent of $550.
There are currently 21 properties listed for sale, and 18 properties listed for rent in Coburg north on OnTheHouse. According to CoreLogic's data, 191 properties were sold in the past 12 months in Coburg north.

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