OFF MARKET

3 Foley Street
Terang VIC 3264

Bedrooms: 3
Bathrooms: 20
Car spaces: -
Floor area: 97m2
Land area: 17600m2
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Property Details for 3 Foley St, Terang

3 Foley St, Terang is a 3 bedroom, 20 bathroom Unit. The property has a land size of 17600m2 and floor size of 97m2. While the property is not currently for sale or for rent, it was last sold in November 2023.

Building Type
Unit
Floor Size
97m2
Land Size
17600m2
Local Government
Corangamite
Lot/Plan
1/TP837905

Last Listing description (December 2023)

MULTI USE POTENTIAL SITE
The May Noonan Hostel served the Terang and wider community as an aged care facility for many years until it ceased recently. The facility is now available for sale and will be transformed for an alternative use. This facility has great potential for purposes such as worker or backpacker accommodation, school camps, or tourism/ hospitality businesses.
Comprising 40 single accommodation rooms, 32 with shared dual bathroom facilities and eight with ensuite bathrooms. It features a well-equipped commercial kitchen, commercial laundry, a large dining area and several lounges plus numerous office and utility rooms. All services are connected and the facility is well appointed with extensive heating/ cooling throughout and security systems.

The property presents in excellent condition and will readily adapt to any one of a number of alternative uses. The building sits on 1.76-hectare site and includes excellent shedding amongst landscaped gardens.
The hostel features a very attractive rural setting, with a lovely vista across farm land to the township of Terang. Situated 40 minutes from Warrnambool, 35 minutes from Great Ocean Road and 2.5 hours from Melbourne.
FOR SALE BY EXPRESSION OF INTEREST: closing on Wednesday, 18th October at 1pm.

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Property History for 3 Foley St, Terang, VIC 3264

A timeline of how this property has performed in the market
Last Sold
$1,485,000
14 Nov 2023
  • 14 Nov 2023
    Sold for $1,485,000
  • 30 Aug 2023
    Listed for Sale EOI closing Wed 18th Oct at 1pm
  • 01 Oct 2018
    Sold for $2,200,000
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About Terang 3264

The size of Terang is approximately 119.2 square kilometres. It has 4 parks covering nearly 0.5% of total area. The population of Terang in 2011 was 2,348 people. By 2016 the population was 2,281 showing a population decline of 2.9% in the area during that time. The predominant age group in Terang is 50-59 years. Households in Terang are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Terang work in a managers occupation. In 2011, 71.2% of the homes in Terang were owner-occupied compared with 72.6% in 2016.

Terang has 1,353 properties. Over the last 5 years, Houses in Terang have seen a 90.63% increase in median value, while Units have seen a 125.01% increase. As at 31 January 2025:

  • The median value for Houses in Terang is $366,675 while the median value for Units is $436,090.
  • Houses have a median rent of $400 while Units have a median rent of $240.
There are currently 15 properties listed for sale, and 2 properties listed for rent in Terang on OnTheHouse. According to CoreLogic's data, 41 properties were sold in the past 12 months in Terang.

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