SOLD
Sold on 01 Mar 2024 for $610,500

199 Princes Drive
Morwell VIC 3840

Bedrooms: 1
Bathrooms: -
Car spaces: -
Floor area: 111m2
Land area: 684m2
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Property Details for 199 Princes Dr, Morwell

Building Type
Commercial
Floor Size
111m2
Land Size
684m2
Local Government
Latrobe
Lot/Plan
1/TP876119

Last Listing description (June 2024)

Former NAB (National Australia Bank) building comprising 3 offices and large open retail/office area;
- Ground floor area approx. 270sqm
- Fully fenced parking area approx. 414sqm

- Land area approx. 684sqm
- Upstairs lunch room/staff amenities approx. 60sqm
- Fully air conditioned premises
- Solar panels/battery system
- Large strong room
- Well situated opposite Train Station and within close proximity of Post Office, Medical Centre and CBD Area
- This property has a multitude of uses
Option for the ATM to remain at the premises with a lease arrangement of 3 years x 2 years x 2 years, providing an income of $7,000 per annum with NAB

Terms: 10% deposit, balance 60 days

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Property History for 199 Princes Dr, Morwell, VIC 3840

A timeline of how this property has performed in the market
Last Sold
$610,500
01 Mar 2024
  • 01 Mar 2024
    Sold for $610,500
  • 14 Dec 2023
    Listed for Sale AUCTION
  • 05 Jan 1977
    Transferred

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About Morwell 3840

The size of Morwell is approximately 44.9 square kilometres. It has 31 parks covering nearly 5.9% of total area. The population of Morwell in 2011 was 14,005 people. By 2016 the population was 13,753 showing a population decline of 1.8% in the area during that time. The predominant age group in Morwell is 50-59 years. Households in Morwell are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Morwell work in a trades occupation. In 2011, 63.1% of the homes in Morwell were owner-occupied compared with 61.7% in 2016.

Morwell has 8,935 properties. Over the last 5 years, Houses in Morwell have seen a 82.31% increase in median value, while Units have seen a 45.81% increase. As at 30 September 2024:

  • The median value for Houses in Morwell is $322,683 while the median value for Units is $272,106.
  • Houses have a median rent of $370 while Units have a median rent of $290.
There are currently 78 properties listed for sale, and 14 properties listed for rent in Morwell on OnTheHouse. According to CoreLogic's data, 368 properties were sold in the past 12 months in Morwell.

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