386-388 Springvale RoadForest Hill VIC 3131
Property Details for 386-388 Springvale Rd, Forest Hill
Last Listing description (August 2024)
Destined for redevelopment, this huge parcel of vacant land measuring approx. 1588sqm offers an exciting opportunity in a premier growth suburb. With all the hard work done, there are endorsed plans and permit for five new architecturally designed townhouses, featuring a combination of floorplans for buyers to choose from.
Alternatively, the exceptional location and accessibility may attract those seeking a new site for a medical centre, restaurant, or childcare facility (STCA).
Promising a rewarding future with many lifestyle benefits, there are bus services to Nunawading Train Station and The Glen Shopping Centre, and a short distance from quality schooling and childcare, local parks, Nunawading Aqualink, Forest Hill Chase, and Burwood One with a 24-hour K-Mart. Enjoy proximity to Deakin University, the Eastern Freeway/EastLink, and Box Hill Central with a thriving shopping and dining district, and transport interchange.
Opportunities like this are incredibly rare, so be quick!
Property History for 386-388 Springvale Rd, Forest Hill, VIC 3131
- 19 Aug 2024Sold for $1,608,800
- 24 Jul 2024Listed for Sale $1,600,000 - $1,760,000
- 27 Aug 2002Sold for $340,000
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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 5,433 properties. Over the last 5 years, Houses in Forest Hill have seen a 16.94% increase in median value, while Units have seen a 13.10% increase. As at 31 October 2024:
- The median value for Houses in Forest Hill is $1,135,699 while the median value for Units is $746,766.
- Houses have a median rent of $595 while Units have a median rent of $573.
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