104 Chapel StreetWindsor VIC 3181
Property Details for 104 Chapel St, Windsor
Last Listing description (October 2023)
Prime retail property with new 5-year lease.
Melbourne's Chapel Street has long been famous for its many eateries, with the Windsor end of the popular strip coming into its own in recent years.
GrayJohnson is pleased to bring to auction an outstanding retail property in the heart of this busy precinct.
The two-storey building has been a restaurant for more than 20 years and includes a full commercial kitchen and dining area on the ground floor. Upstairs is a residential/office area. With a 5-year lease commencing in October 2022 and two further 5-year options, this represents an excellent opportunity for the investor to acquire a property with a bright future in a sought-after retail hub.
Located some 5km* from the Melbourne CBD, the property is well served by public transport with a tram at the door and the Windsor Railway Station a short walk away. It is surrounded by a diverse range of hospitality and retail businesses, attracting both visitors and residents from the affluent south-eastern suburbs.
Opportunities in this sought-after precinct, especially with favourable lease arrangements in place, don't come along every day and we expect considerable interest from investors seeking ongoing returns.
The opportunity
Two-storey solid brick building
Land area 195 sqm*
Building area 115 sqm*
5.2m* frontage to Chapel Street
Rear access via roller shutter door from public carpark
5-year lease plus two further 5-year terms
Returning $60,263 pa as at Oct 2023
The location
Popular retail, arts and dining precinct
5km* from Melbourne CBD
3-minute walk* to Windsor Station
Tram stop at the door
*approx
^STPA
Property History for 104 Chapel St, Windsor, VIC 3181
- 26 Oct 2023Sold for $1,610,000
- 28 Sep 2023Listed for Sale Contact Agent
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About Windsor 3181
The size of Windsor is approximately 1.1 square kilometres. It has 6 parks covering nearly 3.7% of total area. The population of Windsor in 2011 was 7,069 people. By 2016 the population was 7,277 showing a population growth of 2.9% in the area during that time. The predominant age group in Windsor is 20-29 years. Households in Windsor are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Windsor work in a professional occupation. In 2011, 40.3% of the homes in Windsor were owner-occupied compared with 36.2% in 2016.
Windsor has 5,942 properties. Over the last 5 years, Houses in Windsor have seen a 7.44% increase in median value, while Units have seen a -0.95% decrease. As at 31 July 2024:
- The median value for Houses in Windsor is $1,416,687 while the median value for Units is $536,810.
- Houses have a median rent of $765 while Units have a median rent of $525.
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