7 Ireland StreetBright VIC 3741
Property Details for 7 Ireland St, Bright
Last Listing description (January 2024)
With opportunities to purchase commercial properties in Bright so few and far between, don't miss out on this one.
This sale represents an incredible opportunity to own one of Bright's rare freeholds.
7 Ireland street encompasses an impressive 885m2 of Prime Real Estate, fronting the Main Street of Bright along with rear access from Burke Street.
Having been owned for over 35 years by the one owner and known as Star of the Elms for the same period of time, this sale is indeed a significant slice of Brights history.
This is the perfect location in a very busy and popular strip.
The building/shop occupies a combined floor area of approximately 300m2.
At the rear of the shop stands vacant land/ car parking. The potential is enormous.
Proposed plans for further dwellings have previously been drawn - 2 x 2 Bedroom and 2 Bathroom 4 x 1 Bedroom and 1 Bathroom- STCA.
Enter in off the front footpath to a central room with high ceilings. A two bedroom residence occupies the rear of the house, equip with a full kitchen and bathroom. This space is currently used for storage.
Please note that this is the Freehold only purchase with a lease in place to the current lessee until July 2026, with an option through to 2031.
A fabulous opportunity to put your money into bricks & mortar with this freehold investment opportunity in the ever-popular alpine town of Bright.
(Note this is the freehold only, the business is not for sale).
Further Details:
- Rental income: $39,120.36 p.a
- Renewed five year lease to July 2026, with an option for 1 further 5 year term
- Secure Tenant pays usual outgoings
- High profile Main Street site
Sit back and enjoy the income with inevitable growth in land values the area is sure to provide, then at some point in the future you can either occupy or take advantage of the upside potential.
For further information please email office@fourpeaksrealestate.com.au or call 57551249.
Property History for 7 Ireland St, Bright, VIC 3741
- 04 Aug 2023Listed for Sale Not Disclosed
- 14 May 2015Listed for Sale $199,000 BUSINESS PLUS STOCK
- 01 Feb 2013Listed for Sale $300,000 PLUS STOCK LEASEHOLD
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About Bright 3741
The size of Bright is approximately 133.5 square kilometres. It has 14 parks covering nearly 35.2% of total area. The population of Bright in 2016 was 2406 people. By 2021 the population was 2620 showing a population growth of 8.9% in the area during that time. The predominant age group in Bright is 60-69 years. Households in Bright are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Bright work in a professional occupation.In 2021, 72.40% of the homes in Bright were owner-occupied compared with 69.40% in 2016.
Bright has 2,458 properties. Over the last 5 years, Houses in Bright have seen a 48.99% increase in median value, while Units have seen a 32.56% increase. As at 31 March 2026:
- The median value for Houses in Bright is $1,062,737 while the median value for Units is $616,749.
- Houses have a median rent of $600 while Units have a median rent of $450.
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