259-261 Park StreetSouth Melbourne VIC 3205
Property Details for 259-261 Park St, South Melbourne
Last Listing description (November 2023)
Discover the potential of 259 Park Street, South Melbourne, a unique commercial property with distinctive features.
259 Park Street, South Melbourne is for sale via an on-site auction on Wednesday 6th December 2023 at 12pm.
This property stands out with its 10.4m* frontage to the bustling Park Street, making it a prime location for a wide range of businesses. With a net lettable area of 200 sqm and an 257 sqm* land size, it offers substantial space to accommodate your business needs.
Property Highlights:
| Perfect to owner occupy
| A generous 10.4m* frontage to Park Street
| Net Lettable Area (NLA): 200 sqm*
| Land Size: 257 sqm*
| Commercial 1 Zone
| Heritage Overlay
| Design and Development Overlay
This property is currently tenanted to Woodbury Escape Rooms, generating a net annual income of approximately $59,000 + GST, with the lease expiring in September 2024, and the option to extend for an additional year.
Don't miss the chance to secure this outstanding commercial property.
For further details or to arrange a viewing, please contact the exclusive selling agents at Lemon Baxter.
*Approximately
Property History for 259-261 Park St, South Melbourne, VIC 3205
- 06 Dec 2023Sold for $1,825,000
- 01 Nov 2023Listed for Sale Contact Agent
- 04 Feb 2017Listed for Sale Not Disclosed
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0About South Melbourne 3205
The size of South Melbourne is approximately 2.2 square kilometres. It has 15 parks covering nearly 3.3% of total area. The population of South Melbourne in 2011 was 9,317 people. By 2016 the population was 10,892 showing a population growth of 16.9% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation. In 2011, 44.8% of the homes in South Melbourne were owner-occupied compared with 40.2% in 2016.
South Melbourne has 11,163 properties. Over the last 5 years, Houses in South Melbourne have seen a 9.87% increase in median value, while Units have seen a 2.12% increase. As at 31 October 2024:
- The median value for Houses in South Melbourne is $1,619,416 while the median value for Units is $605,499.
- Houses have a median rent of $700 while Units have a median rent of $625.
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