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Sold on 18 Oct 2024 for $275,000

62 George Street
Morwell VIC 3840

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 200m2
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Property Details for 62 George St, Morwell

Building Type
Commercial
Land Size
200m2
Local Government
Latrobe
Lot/Plan
2/LP91196

Last Listing description (October 2024)

Commercial Freehold, well situated in the Morwell CBD area and located amongst major retails Cheap As Chips and Coles Supermarket. The property is currently leased with air conditioned office and large parking area. Land area approx. 269sqm and building area approx. 100sqm.

Current rental $17,674 per annum + outgoings. Lease expires 30/06/2025 with 3 further terms of 3 years. 3% annual increases.

Property History for 62 George St, Morwell, VIC 3840

A timeline of how this property has performed in the market
Last Sold
$275,000
18 Oct 2024
Listed for Rent
$250/w
06 Dec 2021
  • 18 Oct 2024
    Sold for $275,000
  • 08 Oct 2024
    Listed for Sale $295,000 + GST (If Applicable)
  • 23 Feb 2024
    Listed for Sale $320,000 + GST (If Appicale)
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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 8,954 properties. Over the last 5 years, Houses in Morwell have seen a 80.40% increase in median value, while Units have seen a 41.20% increase. As at 30 November 2024:

  • The median value for Houses in Morwell is $324,509 while the median value for Units is $267,245.
  • Houses have a median rent of $373 while Units have a median rent of $295.
There are currently 69 properties listed for sale, and 14 properties listed for rent in Morwell on OnTheHouse. According to CoreLogic's data, 435 properties were sold in the past 12 months in Morwell.

Suburb Insights for Morwell 3840

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Stockdale & Leggo Traralgon
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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.