SOLD
Sold on 01 Dec 2023 for $5,650,000

379-381 St Georges Road
Thornbury VIC 3071

Bedrooms: -
Bathrooms: -
Car spaces: 12
Land area: 1032m2
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Property Details for 379-381 St Georges Rd, Thornbury

Building Type
Commercial
Land Size
1032m2
Local Government
Darebin
Lot/Plan
1/PS327822

Last Listing description (November 2023)

Savills Retail Investments team are excited to offer for sale this exceptional freestanding KFC investment in the thriving inner-city suburb of Thornbury.

Investment highlights include:

- Single-tenanted, minimal-management investment leased to KFC (700 stores nationally)
- Renewed 5-year lease expiring 11 November 2028 with no further options
- Recently refurbished, drive-thru restaurant with GLA of 231sq m*
- Prominent corner landholding of 1,032sq m* with onsite car parking for 12 vehicles
- Commercial 1 zoning, offering exceptional scope for future mixed-use development
- Excellent visibility to a combined 25,200* cars passing daily on St Georges Road and Normanby Avenue
- Annual CPI escalations providing attractive rental growth prospects
- Thornbury: Thriving inner-city suburb of metropolitan Melbourne with median house price of $1,400,000*
- Net Income: $156,763pa*


*Approx.

For Sale via Expressions of Interest closing 3pm, Wednesday 25 October 2023

Property History for 379-381 St Georges Rd, Thornbury, VIC 3071

A timeline of how this property has performed in the market
Last Sold
$5,650,000
01 Dec 2023
  • 01 Dec 2023
    Sold for $5,650,000
  • 26 Sep 2023
    Listed for Sale via EOI closing 3pm, Wednesday 25 October 2023
  • 27 Aug 2013
    Transferred
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About Thornbury 3071

The size of Thornbury is approximately 5.1 square kilometres. It has 26 parks covering nearly 13.6% of total area. The population of Thornbury in 2011 was 17,433 people. By 2016 the population was 18,543 showing a population growth of 6.4% in the area during that time. The predominant age group in Thornbury is 30-39 years. Households in Thornbury are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Thornbury work in a professional occupation. In 2011, 56.3% of the homes in Thornbury were owner-occupied compared with 53.6% in 2016.

Thornbury has 11,300 properties. Over the last 5 years, Houses in Thornbury have seen a 21.51% increase in median value, while Units have seen a 16.84% increase. As at 31 July 2024:

  • The median value for Houses in Thornbury is $1,382,098 while the median value for Units is $625,547.
  • Houses have a median rent of $730 while Units have a median rent of $460.
There are currently 23 properties listed for sale, and 19 properties listed for rent in Thornbury on OnTheHouse. According to CoreLogic's data, 470 properties were sold in the past 12 months in Thornbury.

Suburb Insights for Thornbury 3071

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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.