8/2319 Point Nepean RoadRye VIC 3941
Property Details for 8/2319 Point Nepean Rd, Rye
Last Listing description (November 2023)
+ Brand new five (5) year lease to 2028.
+ Bayside Fish & Chips: new and successful fish & chip shop.
+ Strong and certain income growth with fixed annual, compounding 4% increases.
+ Important high profile 76 sqm* corner retail shop with tenant funded stainless steel kitchen including fryers and cooktops.
+ Blue chip retail location in the heart of the Rye Town Centre, less than 650 metres* from Woolworths, Rye RSL, Rye Hotel, Subway, Australia Post and Rip Curl.
+ Prime beachfront position directly across from Rye foreshore campgrounds, Rye Pier, Front Beach and Rye Summer & Easter Carnival.
+ Direct Exposure to Point Nepean Road, a major commuter road, in the off peak period sees 21,400+ vehicles passing daily.**
+ Single tenant minimum management investment.
+ Within a 3 km radius, the total household spending on retail totaled $17.35 million in 2022.**
+ Booming bayside destination, Rye has a median house price of $1,100,000 up 47% since October 2020. ***
+ Mornington Peninsula Shire: Tourism has seen a 55% increase from the previous year with total domestic tourists reaching 8.23 million people.****
+ Entry level investment within tightly held Rye retail precinct.
+ Estimated Net Income: $37,305 pa* + GST.
To be sold via Investment Portfolio Auction 165
10:30am (AEDT) Wednesday 6 December 2023
River Room, Crown Casino, Melbourne.
This property is being sold along with two other investments within the same retail complex. Also Available:
Shop 5 Rye Clip Joint
+ Brand new three (3) year lease to 2026 plus one (1) further two (2) year option to 2028.
+ Estimated Net Income: $34,415 pa* + GST.
Shop 6 & 7 Xpress Gourmet Pizza
+ Brand new five (5) year lease to 2028.
+ Estimated Net Income: $57,327 pa* + GST.
*Approx
** Gap Maps
*** ***
**** Mornington Peninsula Shire
Property History for 8/2319 Point Nepean Rd, Rye, VIC 3941
- 06 Dec 2023Sold for $990,000
- 02 Nov 2023Listed for Sale Price on Request
- 04 Aug 2020Listed for Rent - Price not available
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About Rye 3941
The size of Rye is approximately 17.7 square kilometres. It has 16 parks covering nearly 14.3% of total area. The population of Rye in 2011 was 8,159 people. By 2016 the population was 8,423 showing a population growth of 3.2% in the area during that time. The predominant age group in Rye is 60-69 years. Households in Rye are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rye work in a trades occupation. In 2011, 72.7% of the homes in Rye were owner-occupied compared with 71.6% in 2016.
Rye has 9,986 properties. Over the last 5 years, Houses in Rye have seen a 45.73% increase in median value, while Units have seen a 32.23% increase. As at 31 October 2024:
- The median value for Houses in Rye is $1,030,203 while the median value for Units is $649,156.
- Houses have a median rent of $590 while Units have a median rent of $480.
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