OFF MARKET

111-113 Upper Heidelberg Road
Ivanhoe VIC 3079

Bedrooms: 1
Bathrooms: -
Car spaces: -
Land area: 420m2
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Property Details for 111-113 Upper Heidelberg Rd, Ivanhoe

Building Type
Commercial
Land Size
420m2
Local Government
Banyule
Lot/Plan
1/TP677309

Last Listing description (August 2023)

Gross Waddell ICR is pleased to be offering 111-113 Upper Heidelberg Road to the market for sale. Offered for the first time in over 20 years, this premium investment is securely leased to a highly rated Mediterranean restaurant. Favourably zoned Commercial 1 (C1Z), the property is situated within the heart of a tightly held bustling retail precinct and offers underlying land value, lending itself to a variety of future development outcomes in the medium to long term (STCA).

Securely leased to multi-award winning operator restaurant,which has been operating for more than 16 years

Significant income profile with a net income of $103,000* p.a. as of 1 Dec 2023

Renewed 5-year term with 3 further terms of 5 years

Strong annual rental increases (6.79%* in Dec 2024; 5.45%* in Dec 2025)

High underlying land value with an expansive landholding of 419 sqm* and benefiting from rear access

Situated in the heart of a bustling retail precinct and alongside national retailers including Chemist Warehouse, Subway, Commonwealth Bank, Woolworths and Ivanhoe Plaza

Metres to Ivanhoe train station and surrounded by a plethora of public car parking spaces

Ivanhoe is a high demand suburb and boasts a soaring median house price of $1,750,000 (source REIV)

For sale via Public on-site Auction on Wednesday 23rd August at 2pm.

For further details or to arrange an inspection, please contact the exclusive marketing agents at Gross Waddell ICR.

*approx.

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Property History for 111-113 Upper Heidelberg Rd, Ivanhoe, VIC 3079

A timeline of how this property has performed in the market
Last Sold
$2,616,000
23 Aug 2023
  • 23 Aug 2023
    Sold for $2,616,000
  • 21 Jul 2023
    Listed for Sale Contact Agent
  • 19 Oct 2001
    Sold for $745,000
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About Ivanhoe 3079

The size of Ivanhoe is approximately 5.5 square kilometres. It has 18 parks covering nearly 21.1% of total area. The population of Ivanhoe in 2011 was 11,085 people. By 2016 the population was 12,192 showing a population growth of 10.0% in the area during that time. The predominant age group in Ivanhoe is 30-39 years. Households in Ivanhoe are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Ivanhoe work in a professional occupation. In 2011, 66.7% of the homes in Ivanhoe were owner-occupied compared with 66.7% in 2016.

Ivanhoe has 7,939 properties. Over the last 5 years, Houses in Ivanhoe have seen a 34.36% increase in median value, while Units have seen a 21.40% increase. As at 31 July 2024:

  • The median value for Houses in Ivanhoe is $1,818,322 while the median value for Units is $767,830.
  • Houses have a median rent of $710 while Units have a median rent of $545.
There are currently 20 properties listed for sale, and 5 properties listed for rent in Ivanhoe on OnTheHouse. According to CoreLogic's data, 285 properties were sold in the past 12 months in Ivanhoe.

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