Plenty RoadPreston VIC 3072
Property Details for 3b/47-53 Plenty Rd, Preston
Last Listing description (September 2024)
This long-established, high exposure restaurant on Plenty Road Preston offers prospective investors a long term income stream with a solid return of circa 5%.
The Opportunity
- Building area 103* sqm
- Fixed 5 per cent annual rent increases
- 5 year lease commencing June 2023
- Option for a further 5 years to June 2033
- Purchase as a Going Concern (No GST to pay)
- 2 car spaces in lock-up undercroft garage
- Zoned Commercial 1 (C1Z)
The Location
- Situated on busy Plenty Road
- Close to South Preston Shopping Centre with its' mix of specialty stores and anchored by a Woolworths supermarket
- Handy to the renowned Preston Market boasting a myriad of grocery, fresh and hot food options plus variety stores
- Around 30 minutes* from the Melbourne CBD
For further information or to arrange an inspection please call John Star 0418 951 604 or Mitchell Kalpakis 0428 761 735.
*Approx.
DISCLAIMER:
Whilst Ray White Preston has taken all care in preparing this information and used their best endeavours to ensure that the information contained therein is true and accurate, but accepts no responsibility and disclaims all liability in respect of any errors, inaccuracies, or misstatements contained herein.
Ray White Preston urges prospective purchasers to make their own inquiries to verify the information contained herein.
Property History for 3b/47-53 Plenty Rd, Preston, VIC 3072
- 30 Sep 2024Listed for Sale Contact Agent
- 17 Sep 2024Sold
- 24 Jun 2024Listed for Sale Contact Agent
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About Preston 3072
The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2011 was 29,925 people. By 2016 the population was 32,865 showing a population growth of 9.8% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation. In 2011, 60.2% of the homes in Preston were owner-occupied compared with 56.7% in 2016.
Preston has 20,869 properties. Over the last 5 years, Houses in Preston have seen a 16.39% increase in median value, while Units have seen a 15.51% increase. As at 31 October 2024:
- The median value for Houses in Preston is $1,128,822 while the median value for Units is $619,019.
- Houses have a median rent of $600 while Units have a median rent of $520.
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