555-557 Princes HighwayNarre Warren VIC 3805
Property Details for 555-557 Princes Hwy, Narre Warren
Last Listing description (October 2023)
Burgess Rawson is pleased to offer to the market 555-557 Princes Highway, Narre Warren VIC for sale via our Investment Portfolio Auction 164.
This opportunity has the following key investment highlights:
+Ambulance Victoria: Benefitting from the recently announced $500M state funding, this Government service provides emergency pre-hospital response to more than 840,000 cases each year.
+Net lease with tenant paying all usual outgoings - land tax exempt (Land Tax Act 2005 Section 74).
+Favourable annual CPI rent reviews.
+Prominent 1,406sqm* corner landmark freehold site with a combined 75 metre* frontage
+Freestanding building with dual cross over to Princes Highway and Richardson Street
+Strategic tenant choice location with easy access to major arterials, Princes Highway, Monash Freeway and Narre Warren North Road
+High exposure location only 200 metres from Monash Freeway & Princes Highway intersection with 129,000 vehicles passing daily
+Modern well kept 405sqm* station, purpose built for Ambulance Victoria in 2010
+Position perfect, adjacent to national retailers, Mercedez Benz, Toyota, KFC and only 750m* from Casey Lifestyle Centre (JBHi-Fi, Total Tools, Petbarn + more)
+Only 1km* from Narre Warren train station
+Immediately opposite the Mercedes Benz car dealership and service centre which services all ambulance vehicles
+Specialised emergency light signals, allowing immediate and direct vehicle access onto Princes Highway
+City of Casey population is forecast to grow 40.57% to 551,362 residents by 2041
+Net income: $119,940 pa + GST
To be sold via Investment Portfolio Auction 164
10:30am (AEDT) Wednesday 25 October 2023
Crown Metropol - Melbourne
Unless sold prior
Property History for 555-557 Princes Hwy, Narre Warren, VIC 3805
- 25 Oct 2023Sold for $3,030,000
- 25 Sep 2023Listed for Sale Price on Request
- 30 Sep 2007Sold for $325,000
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0About Narre Warren 3805
The size of Narre Warren is approximately 14 square kilometres. It has 52 parks covering nearly 9% of total area. The population of Narre Warren in 2011 was 25,882 people. By 2016 the population was 26,623 showing a population growth of 2.9% in the area during that time. The predominant age group in Narre Warren is 20-29 years. Households in Narre Warren are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Narre Warren work in a trades occupation. In 2011, 75.3% of the homes in Narre Warren were owner-occupied compared with 71.7% in 2016.
Narre Warren has 12,098 properties. Over the last 5 years, Houses in Narre Warren have seen a 34.04% increase in median value, while Units have seen a 21.40% increase. As at 31 August 2024:
- The median value for Houses in Narre Warren is $773,385 while the median value for Units is $532,981.
- Houses have a median rent of $530 while Units have a median rent of $500.
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