SOLD
Sold on 04 Nov 2023 for $1,230,000

5A/1 Bik Lane
Fitzroy North VIC 3068

Bedrooms: 1
Bathrooms: 1
Car spaces: 2
Floor area: 128m2
Land area: 128m2
Sold By
Vision Real Estate
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Property Details for 5a/1 Bik Lane, Fitzroy North

Building Type
Commercial
Year Built
1900
Floor Size
128m2
Land Size
128m2
Local Government
Yarra
Lot/Plan
5A/PS531226

Last Listing description (June 2024)

Exceptional Mixed-use Zone Property For Sale - Conversion with Limitless Potential

Enter a world where industrial allure meets modern sophistication in this remarkable 2-level residence nestled within a vibrant mixed-use zone. Once the bustling warehouse and dispatch hub for Cadet Shoes, this property effortlessly combines industrial heritage with contemporary flair, offering a versatile canvas for homeowners and visionary entrepreneurs.

Current Use of Premises Wellness & Mediation Centre

Expected Rental Return Approximately 5% p.a. (currently property is vacant)

Unparalleled Opportunity for Entrepreneurs

Entrepreneurs with a keen eye for potential will be drawn to the extensive commercial possibilities this property offers. With mixed-use zoning, it can seamlessly transform into a boutique wellness center, holistic retreat, art gallery, chic shop, or dynamic home office. The rich spiritual history provides a perfect backdrop for a wellness or meditation center, where individuals can find solace and rejuvenation.

Option to Renovate to suite both living and work - The canvas is blank, and opportunities abound. Whether you choose to preserve existing features or introduce modern amenities tailored to your vision, this property is a testament to your creativity and ambition.

In summary, this residential property with mixed-use zoning stands as a rare gem for restoration enthusiasts and creative minds alike. Its spiritual history seamlessly intertwines with the potential for residential comfort or innovative commercial ventures. Whether you're a discerning homebuyer yearning to craft your dream dwelling or an entrepreneur ready to infuse a touch of history into your business endeavor, this property beckons you to embrace its unique charm and mold it into something extraordinary.

Don't miss out on the opportunity to make your mark on this exceptional space.

Please see the below link for an up-to-date copy of the Due Diligence Checklist:
http://www.consumer.vic.gov.au/duediligencechecklist

DISCLAIMER: All stated dimensions are approximate only. Particulars given are for general information only and do not constitute any representation on the part of the vendor or agent.

Property History for 5a/1 Bik Lane, Fitzroy North, VIC 3068

A timeline of how this property has performed in the market
Last Sold
$1,230,000
04 Nov 2023
  • 04 Nov 2023
    Sold for $1,230,000
  • 08 Sep 2023
    Listed for Sale Contact Agent

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About Fitzroy North 3068

The size of Fitzroy North is approximately 2.5 square kilometres. It has 16 parks covering nearly 16.2% of total area. The population of Fitzroy North in 2011 was 11,473 people. By 2016 the population was 12,335 showing a population growth of 7.5% in the area during that time. The predominant age group in Fitzroy North is 30-39 years. Households in Fitzroy North are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Fitzroy North work in a professional occupation. In 2011, 47.7% of the homes in Fitzroy North were owner-occupied compared with 45.9% in 2016.

Fitzroy North has 7,656 properties. Over the last 5 years, Houses in Fitzroy North have seen a 14.20% increase in median value, while Units have seen a 4.99% increase. As at 30 September 2024:

  • The median value for Houses in Fitzroy North is $1,641,843 while the median value for Units is $740,919.
  • Houses have a median rent of $800 while Units have a median rent of $585.
There are currently 23 properties listed for sale, and 11 properties listed for rent in Fitzroy north on OnTheHouse. According to CoreLogic's data, 272 properties were sold in the past 12 months in Fitzroy north.

Suburb Insights for Fitzroy North 3068

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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.