111C Spring StreetReservoir VIC 3073
Property Details for 111c Spring St, Reservoir
Last Listing description (November 2023)
A great opportunity exists to acquire this modern retail space with main road exposure and attached residence in an upcoming inner north shopping village. Customer parking in front and a rear ROW leading to a large, lock-up garage make this a smart and appealing commercial investment.
Includes kitchen, bathroom facilities, downstairs living or office space, three upstairs bedrooms/offices and large retail area space. The space is suitable for a shop/restaurant/cafe/office (STCA) in this prime Regent location, a short walk from the train station in a setting ripe for new foodie hotspots and innovative retail offerings.
This asset represents a great opportunity to acquire a multi-faceted double storey building located in the heart of burgeoning Reservoir with its growing population focussed on amenities and lifestyle destinations. Transport easily connects this site to its neighbouring suburbs and communities.
Located on busy Spring St in the coveted Regent pocket will appeal to the savvy investor looking for a secure inner-urban business with an attached residence.
Property History for 111c Spring St, Reservoir, VIC 3073
- 18 Mar 2024Sold for $770,000
- 07 Sep 2022Listed for Sale Private Sale $750,000 - $795,000
- 27 Feb 2020Sold for $670,000
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0About Reservoir 3073
The size of Reservoir is approximately 18.9 square kilometres. It has 45 parks covering nearly 8.8% of total area. The population of Reservoir in 2011 was 47,636 people. By 2016 the population was 50,455 showing a population growth of 5.9% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation. In 2011, 62.5% of the homes in Reservoir were owner-occupied compared with 59.3% in 2016.
Reservoir has 28,582 properties. Over the last 5 years, Houses in Reservoir have seen a 18.33% increase in median value, while Units have seen a 18.50% increase. As at 31 October 2024:
- The median value for Houses in Reservoir is $914,960 while the median value for Units is $603,893.
- Houses have a median rent of $530 while Units have a median rent of $500.
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