OFF MARKET

201 Nepean Highway
Mentone VIC 3194

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1715m2
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Property Details for 201 Nepean Hwy, Mentone

Building Type
Commercial
Land Size
1715m2
Local Government
Kingston
Lot/Plan
21/LP13355

Last Listing description (October 2023)

POINT OF INTEREST:
This profile site has a land holding of 1,715 sqm* on a flexible Commercial 1 zoning. Previously occupied by a national car dealership, the site lends itself to a multitude of options from owner occupiers seeking a high profile position to developers seeking to unlock the huge underlying land value.
With an approved planning permit for a hotel and apartment complex, the opportunity is underpinned by advanced leasing interest from a national hotel operator to occupy the 61 room hotel on attractive lease terms.

For owner-occupiers, the possibilities are endless, with existing improvements for value add measuring 387 sqm* and two titles, but its the 72 m* of prime frontage to Nepean Highway that will see your signage reach thousands of daily commuters. Amongst the suppliers of every kind of household necessity like Woolworths, Terry White Chemist, and Bakers Delight next-door, the affluent Mentone is also the suburb where schools flourish and there are over 20 of them within 3 km* from this site.
Do with that what you will, but were forecasting a bustling fast-food hub, automotive, bulky goods showroom, or a commercial and residential hybrid building where commuting to the rest of Melbourne is a matter of stepping outside.

-1,715 sqm* total land area.
- 387 sqm* total building area.
- Approved planning permit.
- Current leasing interest from an established hotel operator.
- 72 m* frontage to Nepean Highway.
- Commercial 1 zoning.
- Exposure to over 57,000 vehicles daily.
- Next door to Thrift Park Shopping Centre.
- 20 schools within 3 km*.

POINT OF VIEW:
Yes, the data says that over 57,000 commuters pass this site daily. But that doesnt account for the eye lines gazing here to make the turn into Thrift Park. Buy into a location that not only turns heads, but slows traffic.

*Approx.
Pricing excludes GST

Property History for 201 Nepean Hwy, Mentone, VIC 3194

A timeline of how this property has performed in the market
Last Sold
$3,135,000
23 Nov 2023
Listed for Rent
$901/w
22 Nov 2013
  • 23 Nov 2023
    Sold for $3,135,000
  • 02 Aug 2023
    Listed for Sale Contact Agent
  • 20 Dec 2022
    Listed for Sale $8,650,000
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About Mentone 3194

The size of Mentone is approximately 4.5 square kilometres. It has 13 parks covering nearly 5.9% of total area. The population of Mentone in 2011 was 11,667 people. By 2016 the population was 12,973 showing a population growth of 11.2% in the area during that time. The predominant age group in Mentone is 40-49 years. Households in Mentone are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mentone work in a professional occupation. In 2011, 66.7% of the homes in Mentone were owner-occupied compared with 62.9% in 2016.

Mentone has 7,943 properties. Over the last 5 years, Houses in Mentone have seen a 25.33% increase in median value, while Units have seen a 11.73% increase. As at 31 October 2024:

  • The median value for Houses in Mentone is $1,405,904 while the median value for Units is $660,859.
  • Houses have a median rent of $700 while Units have a median rent of $515.
There are currently 27 properties listed for sale, and 7 properties listed for rent in Mentone on OnTheHouse. According to CoreLogic's data, 347 properties were sold in the past 12 months in Mentone.

Suburb Insights for Mentone 3194

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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.