41 Challis StreetNewport VIC 3015
Property Details for 41 Challis St, Newport
Last Listing description (October 2021)
This mixed-use property in the heart of Newport is set on approximately 339m2 of land. Its wide shop-front and render brick faade is currently tenanted with a secure 3-year lease and one further option. This property is suited to an investor looking for future development opportunities.
With planning approval for further development, it is ideal for either a retail, medical consulting, or office space. Central connections, such as Maddox Road, Mason Street and Melbourne Road are only moments away.
Other highlights include:
Situated within a mixed-business classification zone.
Rear access to the property via Woods Street.
Office space.
Kitchen and staff amenities.
Land for further development.
Approved for 3 x 2 bedroom apartments and office.
Property History for 41 Challis St, Newport, VIC 3015
- 12 Oct 2021Sold for $855,000
- 05 Aug 2021Listed for Sale $949,000
- 25 Oct 2020Listed for Rent $20,000 / year
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About Newport 3015
The size of Newport is approximately 5.2 square kilometres. It has 22 parks covering nearly 15.4% of total area. The population of Newport in 2011 was 11,987 people. By 2016 the population was 12,913 showing a population growth of 7.7% in the area during that time. The predominant age group in Newport is 40-49 years. Households in Newport are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Newport work in a professional occupation. In 2011, 70.7% of the homes in Newport were owner-occupied compared with 69.2% in 2016.
Newport has 6,506 properties. Over the last 5 years, Houses in Newport have seen a 11.32% increase in median value, while Units have seen a 8.78% increase. As at 30 November 2024:
- The median value for Houses in Newport is $1,173,436 while the median value for Units is $762,423.
- Houses have a median rent of $690 while Units have a median rent of $600.
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