SOLD
Sold on 02 Feb 2024 for $2,400,000

49 Bassetts Road
Doreen VIC 3754

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 388m2
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Sold By
Burgess Rawson VIC Pty Ltd
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Property Details for 49 Bassetts Rd, Doreen

Building Type
Commercial
Land Size
388m2
Local Government
Whittlesea
Lot/Plan
G4/PS842016

Last Listing description (November 2023)

Burgess Rawson are delighted to offer to the market the FoodWorks at 49 Bassetts Road, Doreen VIC for sale via Investment Portfolio Auction 165.

This investment has the following key highlights:

+ New 10-year lease to January 2033 plus options to 2048.

+ FoodWorks: Australia's second largest independent supermarket with over 400 stores Australia-wide, supporting in excess of $1.35 billion in annual sales at the retail level.**
+ Manna-Foods: established and successful independent supermarket operator over 28 years with six (6) stores and growing, including Doreen, East Keilor, Weribee, Hoppers Crossing, Altona and Grantville.
+ Prime 388sqm* clear span supermarket with complete grocery and liquor offering, open till 10pm 7 days a week.
+ Anchor tenant in the new 'Vantage Central' neighbourhood retail centre supported by three complimentary food shops and directly fronting 15 public car parks.
+ Tenant pays all usual outgoings, excluding land tax.
+ Annual fixed 3% rent increases, assuring rental growth.
+ New build, providing significant tax depreciation benefits.
+ Strategic corner position, adjacent to multi- unit development, only 1.2km* from Mernda Railway Station and 450m* from Ivanhoe Grammar, Plenty Campus.
+ Direct access to Bridge Inn Road (350m*) via Bassetts Road, with 9,500 vehicles passing daily.***
+ City of Whittlesea: one of Australia's fastest growing LGA's, forecast to grow in population by 55% to 360,691 residents by 2041.****
+ Net Income: $133,473.57 pa* + GST.

To be sold via Investment Portfolio Auction 165
10:30am (AEDT) Wednesday 6 December 2023
Crown Casino, River Rooms Melbourne

*Approx
**Australian United Retailers
***GapMaps
****forecast.id

For further information, please contact the exclusive selling agents below:

SHAUN VENABLES
0411 860 865
svenables@burgessrawson.com.au

ROMANOR FALCONER
0413 830 808
rfalconer@burgessrawson.com.au

JUSTIN KRAMERSH
0460 349 605
jkramersh@burgessrawson.com.au

JORDAN BELL
0497 844 705
jbell@burgessrawson.com.au

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Property History for 49 Bassetts Rd, Doreen, VIC 3754

A timeline of how this property has performed in the market
Last Sold
$2,400,000
02 Feb 2024
  • 02 Feb 2024
    Sold for $2,400,000
  • 09 Nov 2023
    Listed for Sale Price on Request

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About Doreen 3754

The size of Doreen is approximately 32.4 square kilometres. It has 96 parks covering nearly 7.9% of total area. The population of Doreen in 2011 was 11,276 people. By 2016 the population was 21,292 showing a population growth of 88.8% in the area during that time. The predominant age group in Doreen is 0-9 years. Households in Doreen are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Doreen work in a professional occupation. In 2011, 86% of the homes in Doreen were owner-occupied compared with 76.1% in 2016.

Doreen has 11,915 properties. Over the last 5 years, Houses in Doreen have seen a 27.68% increase in median value, while Units have seen a 33.61% increase. As at 31 October 2024:

  • The median value for Houses in Doreen is $787,288 while the median value for Units is $564,375.
  • Houses have a median rent of $550 while Units have a median rent of $485.
There are currently 81 properties listed for sale, and 22 properties listed for rent in Doreen on OnTheHouse. According to CoreLogic's data, 495 properties were sold in the past 12 months in Doreen.

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