SOLD
Sold on 19 Jan 2024 for $2,900,000

5 Orville Court
Rowville VIC 3178

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1395m2
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Property Details for 5 Orville Ct, Rowville

Building Type
Commercial
Land Size
1395m2
Local Government
Knox
Lot/Plan
16/PS547255

Last Listing description (November 2023)

Colliers are delighted to offer to market, for sale via Expressions of Interest campaign closing Wednesday, 13th December at 3pm (AEDT), 5 Orville Court, Rowville.

This modern full height pre-cast panel designed office warehouse presents immaculately and offers purchaser security and growth. The 925m* building area is situated on a total site area of 1,395m* which is securely gated. The property is leased to national brand Detector Loop Services Pty Ltd who have occupied the site for almost 15 years.

Key Investment Highlights

Passing net rent $148,000 plus GST and outgoings
Fixed 4% annual rental increases.
5-year lease with multiple options (5.0* year WALE by way of income)
Market review at the end of each term
3-month gross rent bank guarantee

5 Orville Court is an opportunity to purchase a long WALE industrial investment in a time when there is limited supply of prime grade industrial asset.

Please contact your exclusive agents below to arrange an inspection.

*Approximate
**Outlines indicative only

Property History for 5 Orville Ct, Rowville, VIC 3178

A timeline of how this property has performed in the market
Last Sold
$2,900,000
19 Jan 2024
  • 19 Jan 2024
    Sold for $2,900,000
  • 14 Nov 2023
    Listed for Sale Please contact agent
  • 11 Dec 2008
    Sold for $512,000

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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 14,071 properties. Over the last 5 years, Houses in Rowville have seen a 35.49% increase in median value, while Units have seen a 14.63% increase. As at 31 August 2024:

  • The median value for Houses in Rowville is $1,117,348 while the median value for Units is $704,745.
  • Houses have a median rent of $650 while Units have a median rent of $550.
There are currently 48 properties listed for sale, and 15 properties listed for rent in Rowville on OnTheHouse. According to CoreLogic's data, 426 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.