SOLD
Sold on 02 Aug 2024 for $910,000

17-19 Ranceby Road
Poowong VIC 3988

Bedrooms: 4
Bathrooms: -
Car spaces: -
Land area: 3251m2
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Sold By
Alex Scott & Staff Korumburra
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Property Details for 17-19 Ranceby Rd, Poowong

Building Type
Commercial
Land Size
3251m2
Local Government
South Gippsland
Lot/Plan
1/LP89986

Last Listing description (August 2024)

Alex Scott & Staff are pleased to present 17-19 Ranceby Road, Poowong for private sale for the first time in nearly 25 years. Well established, and locally supported within a vibrant rural community, this property offers a terrific investment opportunity with long term tenants.
The key facts of this opportunity include:
- Income of $56,904 p.a. plus GST. (approx. 5.83% return)

- Secure long term and established Tenants in IGA Local Grocer and Liquor and Poowong Dairy and Hardware).
- Poowong Dairy and Hardware have a current 3-year Lease Term ending April 2026 (with a further 3-year option)
- IGA have a current 5-year Lease Term ending January 2029 (with 2 further 5-year options).
- Only Businesses of their kind in town.
- Rent reviews - Annual CPI and market.
- Total Land size = 3,251m2.
- Zoned Commercial 1.
- 50 metre frontage and drive-thru access to the rear from either side of the building.
- Total Building area of approx. 842m2.
- Potential for further development (STCA).
- Excellent Main Street location with plenty of car parking for customers.

Contact the selling agents today for further information or to arrange an on-site inspection.

Disclaimer: Whilst every care has been taken in preparing the above information, it is to be used as a guide only. Please refer to the appropriate legal documentation to complete your due diligence.

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Property History for 17-19 Ranceby Rd, Poowong, VIC 3988

A timeline of how this property has performed in the market
Last Sold
$910,000
02 Aug 2024
  • 02 Aug 2024
    Sold for $910,000
  • 13 May 2024
    Listed for Sale $975,000
  • 03 Oct 2000
    Sold for $115,500

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About Poowong 3988

The size of Poowong is approximately 49.5 square kilometres. It has 3 parks covering nearly 0.2% of total area. The population of Poowong in 2011 was 609 people. By 2016 the population was 637 showing a population growth of 4.6% in the area during that time. The predominant age group in Poowong is 60-69 years. Households in Poowong are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Poowong work in a managers occupation. In 2011, 82.4% of the homes in Poowong were owner-occupied compared with 85.4% in 2016.

Poowong has 559 properties. Over the last 5 years, Houses in Poowong have seen a 166.99% increase in median value. As at 30 November 2024:

  • The median value for Houses in Poowong is $1,092,664 while the median value for Units is $274,484.
There are currently 10 properties listed for sale, and no properties listed for rent in Poowong on OnTheHouse. According to CoreLogic's data, 13 properties were sold in the past 12 months in Poowong.

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