SOLD
RECENT ADVICE
Sold on 12 Sep 2024 for $2,086,667

275 Raymond Street
Sale VIC 3850

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 518m2
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Property Details for 275 Raymond St, Sale

Building Type
Commercial
Land Size
518m2
Local Government
Wellington
Lot/Plan
7/SP19957

Last Listing description (September 2024)

This iconic commercial freehold set in the heart of Sales CBD is to be offered to the market for the first time and represents an outstanding commercial investment opportunity.
The site has been utilised as a pharmacy since 1981 and has been a constant in the ever changing landscape of Raymond Street.
With a strong lease in place at a current annual rent of $123,784 per annum plus GST and all outgoings.

The current term expires on the 31/8/2024 with negotiations underway for the next 5 year option to be taken up.
There are 3 x 5 year options in place taking the lease up to the 2039.
The rent reviews are to CPI within the lease and market reviews at each option term.
The shop is in great condition throughout with the current occupier starting a refurbishment program to keep the brand as strong as ever.
For a Due Diligence Checklist go to: consumer.vic.gov.au/duediligencechecklist, or call us on (03) 5144 4333

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Property History for 275 Raymond St, Sale, VIC 3850

A timeline of how this property has performed in the market
Last Sold
$2,086,667
12 Sep 2024
  • 12 Sep 2024
    Sold for $2,086,667
  • 18 Mar 2024
    Listed for Sale $2,175,000
  • 11 Oct 2023
    Listed for Sale $2,175,000
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About Sale 3850

The size of Sale is approximately 46 square kilometres. It has 35 parks covering nearly 2.8% of total area. The population of Sale in 2011 was 13,185 people. By 2016 the population was 13,673 showing a population growth of 3.7% in the area during that time. The predominant age group in Sale is 0-9 years. Households in Sale are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Sale work in a professional occupation. In 2011, 64.9% of the homes in Sale were owner-occupied compared with 63.9% in 2016.

Sale has 8,739 properties. Over the last 5 years, Houses in Sale have seen a 47.96% increase in median value, while Units have seen a 56.68% increase. As at 31 October 2024:

  • The median value for Houses in Sale is $470,209 while the median value for Units is $326,571.
  • Houses have a median rent of $470 while Units have a median rent of $363.
There are currently 145 properties listed for sale, and 37 properties listed for rent in Sale on OnTheHouse. According to CoreLogic's data, 316 properties were sold in the past 12 months in Sale.

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Graham Chalmer Pty Ltd
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