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Sold on 01 Oct 2024 - Price Unavailable

59 Reid Street
South Morang VIC 3752

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2300m2
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Property Details for 59 Reid St, South Morang

Building Type
Commercial
Land Size
2300m2
Local Government
Whittlesea
Lot/Plan
1/LP85154

Last Listing description (October 2024)

For the first time in over 50 years, this rare gem is now on the market. Nestled on an impressive 2300 sqm (approx.) block, this 4-bedroom, 1-bathroom full brick home is immaculately maintained, offering immediate livability. However, the standout feature of this property is the incredible development potential it presents (STCA).

With such a substantial parcel of land, the possibilities are truly limitless. Developers, investors, and visionaries will relish the opportunity to subdivide and create a multi-unit development (STCA) or build a childcare centre, aged care facility, or even a medical centre catering to the needs of the growing community. Alternatively, this site is perfectly suited for an educational facility, such as a private tuition centre, kindergarten, or specialised learning hub. Its strategic location, near South Morang Shops, Axis Shopping Precinct, bus transport, and popular schools, adds to its appeal. Additionally, it's just a short drive to Westfield Shopping Centre and the Middle Gorge and South Morang train stations, ensuring easy access for future residents, clients, or students.

Large development sites like this rarely come to market, making this a once-in-a-generation opportunity with immense potential for long-term gain. Whether you're envisioning a boutique residential development, a community-focused project, or a medical or educational facility, this property offers the perfect canvas for realising your vision (STCA).

Don't miss this unparalleled opportunity to invest in the future and unlock the full potential of this landmark property. Private inspections welcome.

Property History for 59 Reid St, South Morang, VIC 3752

A timeline of how this property has performed in the market
Last Sold
01 Oct 2024
  • 01 Oct 2024
    Sold
  • 06 Sep 2024
    Listed for Sale Expressions of Interest close 30 Sep 5pm

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About South Morang 3752

The size of South Morang is approximately 21 square kilometres. It has 70 parks covering nearly 37.1% of total area. The population of South Morang in 2011 was 20,873 people. By 2016 the population was 24,043 showing a population growth of 15.2% in the area during that time. The predominant age group in South Morang is 30-39 years. Households in South Morang are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in South Morang work in a professional occupation. In 2011, 79.3% of the homes in South Morang were owner-occupied compared with 76.9% in 2016.

South Morang has 10,979 properties. Over the last 5 years, Houses in South Morang have seen a 27.19% increase in median value, while Units have seen a 34.15% increase. As at 31 August 2024:

  • The median value for Houses in South Morang is $812,651 while the median value for Units is $537,705.
  • Houses have a median rent of $550 while Units have a median rent of $500.
There are currently 50 properties listed for sale, and 24 properties listed for rent in South morang on OnTheHouse. According to CoreLogic's data, 412 properties were sold in the past 12 months in South morang.

Suburb Insights for South Morang 3752

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Petar Djeparoski
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Chamara Adihetty
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Ray White South Morang
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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.