FOR SALE

246A Victoria Street
Richmond VIC 3121

Bedrooms: 3
Bathrooms: -
Car spaces: 1
Land area: 1058m2
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Property Details for 246a Victoria St, Richmond

Building Type
Commercial
Year Built
1960
Land Size
1058m2
Local Government
Yarra
Lot/Plan
246A/PS413414

Last Listing description (December 2023)

Nestled amongst other well frequented businesses is an invest of note with a long-term tenant it represents a solid investment for the astute buyer. Richmond has been a popular suburb with young and mature Melburnians for work, dining and entertainment day and night. Victoria street is a major traffic corridor between the CBD and Melbourne's inner East suburbs such as Kew, Hawthorn and Camberwell and includes daily tram services to and from them equating to high volumes of people frequenting the area.
* Commercial Zone 1

* Floor area 157m2 approx.
* Secured rear access
* One designated undercover parking space
* Lease renewed in First of March 2023
* Original lease terms being 3 X 3 X 3. Lease was Commencing 01/03/2018) rent increase 2.5% per year
* Current rental returned $67,650 Inc GST + Outgoings

Outgoing :
Body corporation: $4,000/year approx.


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Property History for 246a Victoria St, Richmond, VIC 3121

A timeline of how this property has performed in the market
Last Sold
$1,009,000
19 Sep 2023
  • 19 Sep 2023
    Sold for $1,009,000
  • 27 Jul 2023
    Listed for Sale SOLD AT AUCTION
  • 27 May 2021
    Sold for $1,100,000
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About Richmond 3121

The size of Richmond is approximately 4.4 square kilometres. It has 20 parks covering nearly 4.9% of total area. The population of Richmond in 2011 was 23,814 people. By 2016 the population was 27,711 showing a population growth of 16.4% in the area during that time. The predominant age group in Richmond is 20-29 years. Households in Richmond are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Richmond work in a professional occupation. In 2011, 43.2% of the homes in Richmond were owner-occupied compared with 40.8% in 2016.

Richmond has 22,332 properties. Over the last 5 years, Houses in Richmond have seen a 13.68% increase in median value, while Units have seen a -0.18% decrease. As at 30 September 2024:

  • The median value for Houses in Richmond is $1,408,440 while the median value for Units is $611,438.
  • Houses have a median rent of $775 while Units have a median rent of $575.
There are currently 69 properties listed for sale, and 71 properties listed for rent in Richmond on OnTheHouse. According to CoreLogic's data, 958 properties were sold in the past 12 months in Richmond.

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