OFF MARKET

342-348 Springvale Road
Forest Hill VIC 3131

Bedrooms: -
Bathrooms: -
Car spaces: 17
Floor area: 26m2
Land area: 841m2
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Property Details for 342-348 Springvale Rd, Forest Hill

Building Type
Commercial
Floor Size
26m2
Land Size
841m2
Local Government
Whitehorse
Lot/Plan
2/TP853596

Last Listing description (October 2023)

Cameron Commercial is pleased to exclusively present this prized corner site in Forest Hill.

The purchaser can develop with the 4-level approved commercial & residential plans, or build a retail shop/showroom for their business.

* 732 sqm Land area (additional 109sqm on title)

* 50,000+* Cars passing daily
* Unbeatable corner spot
* Occupy or develop
* Month-to-month lease to Glenny Kebabs
* 47m* Frontage to Springvale and Canterbury Road
* Seconds to Forest Hill Chase Shopping Centre
* Magnificent exposure
* Flexible settlement terms

Location
* Corner of Springvale Road & Canterbury Road
* 1.5km* to Nunawading Station
* Opposite Isshin Japanese Restaurant
* 550m* to Forest Hill Shopping Centre which includes over 180 stores including: ALDI, Australia Post, Coles, Breadtop, Commbank, Cotton On, Forest Hill Chase Shopping Centre, HOYTS, JB HI FI, Woolworths, Target, Vodafone, The Groove Train, Timezone and much more)

Endorsed plans include:
- 4 Storeys mixed-use development
- 350 sqm Retail (ground floor)
- 760 sqm Offices (first & second floor)
- 273 sqm Residential (third floor)
- 31 Total basement car parks

Property History for 342-348 Springvale Rd, Forest Hill, VIC 3131

A timeline of how this property has performed in the market
Last Sold
$2,688,888
17 Aug 2023
Listed for Rent
16 Oct 2018
  • 17 Aug 2023
    Sold for $2,688,888
  • 13 Sep 2022
    Listed for Sale Contact Agent
  • 13 May 2020
    Listed for Sale $2,990,000
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About Forest Hill 3131

The size of Forest Hill is approximately 4.1 square kilometres. It has 12 parks covering nearly 8.5% of total area. The population of Forest Hill in 2011 was 10,051 people. By 2016 the population was 10,628 showing a population growth of 5.7% in the area during that time. The predominant age group in Forest Hill is 40-49 years. Households in Forest Hill are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Forest Hill work in a professional occupation. In 2011, 72.5% of the homes in Forest Hill were owner-occupied compared with 70.1% in 2016.

Forest Hill has 5,425 properties. Over the last 5 years, Houses in Forest Hill have seen a 30.60% increase in median value, while Units have seen a 12.88% increase. As at 31 July 2024:

  • The median value for Houses in Forest Hill is $1,146,130 while the median value for Units is $692,208.
  • Houses have a median rent of $580 while Units have a median rent of $550.
There are currently 16 properties listed for sale, and 5 properties listed for rent in Forest hill on OnTheHouse. According to CoreLogic's data, 194 properties were sold in the past 12 months in Forest hill.

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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.