75 Glen Eira RoadRipponlea VIC 3185
Property Details for 75 Glen Eira Rd, Ripponlea
Last Listing description (May 2021)
** SOLD **
INVEST NOW / DEVELOP LATER (STCA)
Gross Waddell ICR is pleased to offer for sale this sizeable, high exposure retail site positioned on the corner of Glen Eira Road and Hotham Street, within the tightly held Ripponlea Village.
An iconic, freestanding two level corner building of 838m* consisting of seven shops and first floor offices currently occupied by six tenants
A prominent landholding of 716m* with three street frontages:
- Glen Eira Road: 39m*
- Hotham Street: 18m*
- R.O.W.: 18m*
Short term lease holdings allow for the ultimate flexibility to 'value add' or develop (STCA)
Current income of $295,000* p.a.
*Approx.
Property History for 75 Glen Eira Rd, Ripponlea, VIC 3185
- 06 May 2021Sold for $7,200,000
- 08 Apr 2021Listed for Sale Contact Agent
- 02 Dec 2020Sold for $5,950,000
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About Ripponlea 3185
The size of Ripponlea is approximately 0.3 square kilometres. It has 2 parks covering nearly 3.5% of total area. The population of Ripponlea in 2011 was 1,477 people. By 2016 the population was 1,572 showing a population growth of 6.4% in the area during that time. The predominant age group in Ripponlea is 20-29 years. Households in Ripponlea are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Ripponlea work in a professional occupation. In 2011, 43.4% of the homes in Ripponlea were owner-occupied compared with 43.6% in 2016.
Ripponlea has 919 properties. Over the last 5 years, Houses in Ripponlea have seen a 14.60% increase in median value, while Units have seen a 4.64% increase. As at 31 October 2024:
- The median value for Houses in Ripponlea is $2,007,609 while the median value for Units is $571,461.
- Houses have a median rent of $740 while Units have a median rent of $500.
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