SOLD
Sold on 19 Apr 2024 for $750,000

180-182 Bourke Street
Melbourne VIC 3000

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 150m2
Land area: 208m2
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Property Details for Lot 2/180-182 Bourke St, Melbourne

Building Type
Commercial
Floor Size
150m2
Land Size
208m2
Local Government
Melbourne
Lot/Plan
2/PS521026

Last Listing description (July 2024)

Ray White Burwood is pleased to offer to the market for sale on the entire Level 2 of central Melbourne CBD corner of Bourke Street and Russell Street. Located above Hungry Jacks on the bustling Bourke Street with approx. 11,644 people walking by on average each day equalling to approx. 4,250,060 people per year, the property is within walking distance to Chinatown, trams, trains & Swanston St.

With over 15 years of consistent rental success, this remarkable space is currently leased to two thriving businesses-a renowned beauty salon and a popular hair salon. Located in a prime location, this property offers an exceptional investment opportunity. The long-term success of these businesses is a testament to the high demand in the area and the loyal customer base they have cultivated over the years.

Imagine the potential for ongoing revenue and growth as you step into this well-established investment. Benefit from the stability and profitability that comes with a property that has a proven track record.

Key attributes of this property:
- Floor area 153 sqm
- Favourable zoned Capital City Zone (CCZ2)
- Affordable investment or owner occupy opportunity
- High exposure corner of Bourke St & Russell St
- Superior foot traffic
- Annual Rental Income $51,973.45 plus GST plus outgoing
- Well established business over 15 years
- 3 year lease till 2027 + 3 year optional
- Strong yield

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Property History for Lot 2/180-182 Bourke St, Melbourne, VIC 3000

A timeline of how this property has performed in the market
Last Sold
$750,000
19 Apr 2024
  • 22 Apr 2024
    Listed for Sale Under Offer
  • 19 Apr 2024
    Sold for $750,000
  • 02 Aug 2007
    Sold for $545,000
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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 61,354 properties. Over the last 5 years, Houses in Melbourne have seen a 33.57% increase in median value, while Units have seen a 2.46% increase. As at 31 August 2024:

  • The median value for Houses in Melbourne is $1,218,497 while the median value for Units is $465,019.
  • Houses have a median rent of $600 while Units have a median rent of $645.
There are currently 301 properties listed for sale, and 261 properties listed for rent in Melbourne on OnTheHouse. According to CoreLogic's data, 2070 properties were sold in the past 12 months in Melbourne.

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