1016 Mornington-Flinders RoadRed Hill VIC 3937
Property Details for 1016 Mornington-Flinders Rd, Red Hill
Last Listing description (March 2020)
A rare retail investment opportunity known as 1016 Mornington Flinders Road Red Hill is now offered for sale, 3 retail shops on one title.
Only an hour drive from the Melbourne CBD, Red Hill forms part of the spectacular Mornington Peninsula, a renowned local and tourist destination. This township is well-known for its beautiful, bushy surrounds, vineyards, walking and hiking trails and it's unique and eclectic mix of restaurants, cafes and stores.
Land Size: 1003m2 approx
Commercial 1 Zoning
- Shop 1: 72m2 - $24,360 per annum + GST + Outgoings 3% annual increases
- Shop 2: 61m2 - Vacant - Advertised Rent of $26,400 per annum + GST + Outgoings
- Shop 3: 73m2 - $24,356 per annum + GST + Outgoings 4% annual increases
Call Michelle Adams on 0407 743 858 to arrange an inspection.
Property History for 1016 Mornington-Flinders Rd, Red Hill, VIC 3937
- 21 May 2021Sold for $1,375,000
- 28 May 2019Listed for Sale $1,650,000
- 23 Jul 2009Listed for Rent $17,160 / year
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0About Red Hill 3937
The size of Red Hill is approximately 23.5 square kilometres. It has 6 parks covering nearly 3.8% of total area. The population of Red Hill in 2011 was 734 people. By 2016 the population was 915 showing a population growth of 24.7% in the area during that time. The predominant age group in Red Hill is 60-69 years. Households in Red Hill are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Red Hill work in a professional occupation. In 2011, 82.8% of the homes in Red Hill were owner-occupied compared with 81.7% in 2016.
Red Hill has 627 properties. Over the last 5 years, Houses in Red Hill have seen a 11.56% increase in median value, while Units have seen a 51.50% increase. As at 31 October 2024:
- The median value for Houses in Red Hill is $2,612,658 while the median value for Units is $1,892,659.
- Houses have a median rent of $780.
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