SOLD
Sold on 06 Dec 2023 for $4,580,000

197-199 Murrindal Drive
Rowville VIC 3178

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1489m2
Sold By
Adam Thomas
Burgess Rawson Queensland
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Property Details for 197-199 Murrindal Dr, Rowville

Building Type
Commercial
Land Size
1489m2
Local Government
Knox
Lot/Plan
PC355068

Last Listing description (November 2023)

Burgess Rawson is pleased to offer to the market 197-199 Murrindal Drive, Rowville VIC for sale via our Investment Portfolio Auction 165.

This opportunity has the following key investment highlights:

+ New fifteen (15) year net lease to June 2037

+ Two (2) further ten (10) year options to 2057
+ Discovery Bay Early Learning: premium 'Montessori' early education provider with a current network of 8 centres across Victoria
+ Fixed 3% annual rent increases, ensuring future income growth
+ Tenant pays all usual outgoings
+ Newly refurbished facility, offering significant depreciation benefits
+ Modern purpose-built centre licensed for 76 LDC places
+ Established and long trading centre since 1995
+ Strategically positioned adjoining Karoo Primary School (495+ enrolments), and situated in a favorable educational precinct, featuring an additional 9 schools within a 3km radius
+ Substantial 1,489sqm* landholding conveniently located within 3km* of major retail amenities including major centres Rowville Lakes Shopping Centre, HomeCo Knoxfield, Wellington Village Shopping Centre & Stud Park Shopping Centre
+ Rowville: established family-orientated suburb with excellent access to key retail, commercial and transport amenities, and located only 27km* from the Melbourne CBD
+ Child Care/Early Education is an essential service and one of Australia's most sought-after asset classes, both the Federal and State Governments have allocated unprecedented funding to support this sector. In the 2022-2023 period, the Federal Government is projected to contribute $10.7 billion in funding, plus an additional $4.7 billion dedicated to the Cheaper Child Care Reform taking effect from July 2023. This reform aims to enhance the affordability of early education and care for approximately 1.2 million families^
+ Net Income: $252,110 pa* + GST

For Sale by Investment Portfolio Auction
10:30am AEDT Wednesday 6 December 2023
River Room, Crown Casino, Melbourne

Please contact the exclusively appointed team for more information.

*Approx.
^ Australian Government - Department of Education | Child Care Subsidy Reform

Property History for 197-199 Murrindal Dr, Rowville, VIC 3178

A timeline of how this property has performed in the market
Last Sold
$4,580,000
06 Dec 2023
  • 06 Dec 2023
    Sold for $4,580,000
  • 03 Nov 2023
    Listed for Sale Price on Request
  • 21 Oct 2005
    Sold for $705,000

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About Rowville 3178

The size of Rowville is approximately 21.7 square kilometres. It has 63 parks covering nearly 23.9% of total area. The population of Rowville in 2011 was 34,145 people. By 2016 the population was 33,689 showing a population decline of 1.3% in the area during that time. The predominant age group in Rowville is 50-59 years. Households in Rowville are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rowville work in a professional occupation. In 2011, 84.6% of the homes in Rowville were owner-occupied compared with 82.4% in 2016.

Rowville has 14,018 properties. Over the last 5 years, Houses in Rowville have seen a 26.41% increase in median value, while Units have seen a 12.12% increase. As at 31 October 2024:

  • The median value for Houses in Rowville is $1,102,658 while the median value for Units is $694,966.
  • Houses have a median rent of $650 while Units have a median rent of $570.
There are currently 42 properties listed for sale, and 12 properties listed for rent in Rowville on OnTheHouse. According to CoreLogic's data, 422 properties were sold in the past 12 months in Rowville.

Suburb Insights for Rowville 3178

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.