305 Coventry StreetSouth Melbourne VIC 3205
Property Details for 305 Coventry St, South Melbourne
Last Listing description (November 2023)
Stonebridge Property Group is pleased to present for sale 305 Coventry Street, South Melbourne.
The key highlights of the opportunity include:
- 100% leased to Market Lane Coffee, a highly popular and established caf business (est. 2009) with 9 locations throughout Victoria
- Market Lane Coffee lease the property on a 10-year term with one further five-year option (through to 2032) and favourable 4% increases
- The prominent double level building boasts rear access providing separate access to level one which is currently utilised as office space
- Positioned directly opposite the famed South Melbourne Markets, attracting more than 5.5 million visitors per year and providing a constant customer base for Market Lane Coffee
- Providing scope for a future 4 level mixed use development (STCA)
- Located at the heart of South Melbourne's prestigious caf and retail precinct home to a number well regarded hospitality operators
305 Coventry Street, South Melbourne is offered for sale via Public On-site Auction Wednesday 22nd November 2023 at 10:30am (AEDT). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
Sarah Xi
0468 320 297
Rorey James
0439 400 081
*Approximately
Property Code: 794
Property History for 305 Coventry St, South Melbourne, VIC 3205
- 22 Nov 2023Sold for $1,425,000
- 20 Oct 2023Listed for Sale Contact the Stonebridge Team
- 17 Mar 2017Sold for $1,495,000
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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 11,214 properties. Over the last 5 years, Houses in South Melbourne have seen a 35.74% increase in median value, while Units have seen a 2.45% increase. As at 31 August 2024:
- The median value for Houses in South Melbourne is $1,791,704 while the median value for Units is $597,361.
- Houses have a median rent of $750 while Units have a median rent of $625.
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