289 Ingles StreetPort Melbourne VIC 3207
Property Details for 289 Ingles St, Port Melbourne
Last Listing description (October 2023)
Gross Waddell ICR is pleased to exclusively present for your consideration 289 Ingles Street, Port Melbourne, a sprawling city fringe commercial freehold with exceptional development potential (STCA). This fully leased freehold offers substantial income profile and is surrounded by phenomenal height precedents.
2,414 sqm* Port Melbourne landholding right on the edge of the Melbourne's CBD within the highly popular 'Sandridge Precinct'
Securely leased to 2 long established tenants including the blue-chip national retailer Spotlight
Substantial income profile offering $361,493 net income pa* with each lease boasting a redevelopment clause
Sprawling 2 level freehold including 1,744 sqm* of office and warehouse plus a valuable 44 on-site car parks
Favourably zoned Capital City Zone (CCZ1) under the Port Phillip Planning Scheme
40-50 storey surrounding height precedents enabling a potential high density residential, office, hotel or build-to-rent development (STCA)
One of Melbourne's most premium lifestyle locations including close proximity to the Clarendon Street & Bay Street retail & food strips, South Melbourne Market, Crown Casino, DFO South Wharf, Royal Botanic Gardens, Albert Park Lake, Port Phillip Bay and walking distance to Melbourne's CBD
Port Melbourne adjoins the CBD, Docklands, South Melbourne and Southbank precincts that will remain the focus of Melbourne's Global City status
Unrivalled road & public transport networks including immediate access to Lorimer Street and Montague Street connectivity to City Link, the Westgate Freeway, Monash Freeway, Queens Road with St Kilda Road nearby. Immediate tram access with Route 109 connecting to the CBD and Port Melbourne beach
The property is for sale via private treaty. For further information please contact the exclusively appointed Gross Waddell ICR directly.
*approx.
Property History for 289 Ingles St, Port Melbourne, VIC 3207
- 16 Nov 2023Sold for $6,250,000
- 19 Jul 2023Listed for Sale Contact Agent
- 13 Jun 2019Listed for Rent - Price not available
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About Port Melbourne 3207
The size of Port Melbourne is approximately 10.1 square kilometres. It has 34 parks covering nearly 11.2% of total area. The population of Port Melbourne in 2011 was 14,521 people. By 2016 the population was 16,168 showing a population growth of 11.3% in the area during that time. The predominant age group in Port Melbourne is 30-39 years. Households in Port Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Port Melbourne work in a professional occupation. In 2011, 50.9% of the homes in Port Melbourne were owner-occupied compared with 50.5% in 2016.
Port Melbourne has 13,240 properties. Over the last 5 years, Houses in Port Melbourne have seen a 1.30% increase in median value, while Units have seen a 2.23% increase. As at 31 October 2024:
- The median value for Houses in Port Melbourne is $1,530,130 while the median value for Units is $843,205.
- Houses have a median rent of $825 while Units have a median rent of $690.
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