SOLD
Sold on 18 Apr 2024 for $2,800,000

10 Katherine Place
Melbourne VIC 3000

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1m2
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Property Details for 10 Katherine Pl, Melbourne

Building Type
Commercial
Year Built
1990
Land Size
1m2
Local Government
Melbourne
Lot/Plan
B/SP34396

Last Listing description (November 2023)

+ 6-year lease plus three (3) further six (6) year options to 2043.
+ Hardware Socit: international brunch institution, with locations in Paris, Barcelona and two in Melbourne CBD.**
+ Strong and certain income growth with fixed annual, compounding 4% increases.

+ Ground floor corner retail premises with dual street frontage and exposure to high foot traffic.
+ Immaculate 255 sqm* tenant funded capital-intensive fit out with fully serviced kitchen and functional open-plan configuration.
+ Property to be sold along with Liquor License.
+ Positioned within Katherine Place, Melbourne's iconic modern laneway between Flinders Lane and Flinders Street.
+ Major office towers nearby include the Rialto, Jemena, Suncorp Building, 595 Collins, Collins Arch and the soon to be completed 555 Collins building, an $800 million tower that will be home to Amazon's new corporate headquarters.
+ Walking distance to some of Melbourne's most popular attractions, including the Crown Casino, Melbourne Aquarium, DFO and the Melbourne Convention Exhibition Centre (MCEC).
+ Surrounded by important public transport infrastructure, with tram services virtually on your doorstep, Southern Cross Station within 300m* and Flinders Street Station just a short stroll from the property.
+ The City of Melbourne: On average, over 850,000 people visit the city centre every day and each year Melbourne hosts over a million international visitors.***
+ By 2041, the City of Melbourne's population is expected to double and reach over 308,000 over the same period, the number of jobs is forecast to increase by 41% and reach over 659,000.****
+ Deceased Estate Must be Sold!
+ Net Income: $179,504 pa* + GST (as at 1 Jan 2024).

To be sold by Investment Portfolio Auction:
10:30am AEDT Wednesday 6 December 2023
Crown Casino, Melbourne

*Approximately
**Hardware Socit
***VIC GOV
****Remplan

Burgess Rawson Agents
Rick Jacobson 0413 830 083
Jamie Perlinger 0413 860 315
Zomart He 0488 220 830

Gross Waddell ICR Agents
Alex Ham 0410 545 226
Raoul Slater 0418 335 432

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Property History for 10 Katherine Pl, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$2,800,000
18 Apr 2024
Listed for Rent
$958/w
23 Nov 2020
  • 18 Apr 2024
    Sold for $2,800,000
  • 02 Nov 2023
    Listed for Sale Price on Request
  • 04 Jun 2019
    Listed for Rent - Price not available
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About Melbourne 3000

The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 60,854 properties. Over the last 5 years, Houses in Melbourne have seen a -37.57% decrease in median value, while Units have seen a 0.09% increase. As at 30 September 2024:

  • The median value for Houses in Melbourne is $742,012 while the median value for Units is $459,555.
  • Houses have a median rent of $600 while Units have a median rent of $650.
There are currently 304 properties listed for sale, and 276 properties listed for rent in Melbourne on OnTheHouse. According to CoreLogic's data, 2015 properties were sold in the past 12 months in Melbourne.

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