378 Canterbury RoadRingwood East VIC 3135
Property Details for 378 Canterbury Rd, Ringwood East
Last Listing description (November 2023)
Take advantage of the 5 from 1 development potential (STCA)
A unique Commercial opportunity with a 'Residential' development potential, offering flexibility in the short and long term to;
The high profile 'Canterbury Road' presence captures thousands of 'eye balls' daily from passing motorists, this presence is complimented by a seperate carriage way for customer parking plus private parking at the rear, due to the corner nature of the property.
Commercially the property would be ideal to grow your business brand or support a tenant to do the same. What business wouldn't love such a visual presence combined with convenient 'click and collect' access and parking.
Inherently, the property has significant development potential, that would maximise the commercial and residential opportunities that are in local demand. Independent design advise is that 5 properties could be created from this 1 site with current day revenue potential of approximately 3 million.
This advice is (STCA) and market conditions, but the concept drawings and independent advice provided should be a spark for further discussion if you are seeking a profitable project with plenty of scope and flexibility now or in the future.
Property Features:
Land Size - 447 sqm
2 Street Frontages, approximately 9.5 meters x 49 meters.
Approximately, 130 sqm of floor space.
Private car park at the rear of the property.
For more information or to arrange a private inspect contact us today.
Property History for 378 Canterbury Rd, Ringwood East, VIC 3135
- 27 Mar 2024Sold for $690,000
- 13 Oct 2023Listed for Sale $795,000
- 19 Jun 2023Listed for Rent - Price not available
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About Ringwood East 3135
The size of Ringwood East is approximately 4.7 square kilometres. It has 16 parks covering nearly 6.7% of total area. The population of Ringwood East in 2011 was 9,748 people. By 2016 the population was 10,285 showing a population growth of 5.5% in the area during that time. The predominant age group in Ringwood East is 30-39 years. Households in Ringwood East are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ringwood East work in a professional occupation. In 2011, 71.1% of the homes in Ringwood East were owner-occupied compared with 68.3% in 2016.
Ringwood East has 5,495 properties. Over the last 5 years, Houses in Ringwood East have seen a 19.43% increase in median value, while Units have seen a 13.74% increase. As at 31 October 2024:
- The median value for Houses in Ringwood East is $1,020,554 while the median value for Units is $712,544.
- Houses have a median rent of $590 while Units have a median rent of $500.
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