17/328 Reserve RoadCheltenham VIC 3192
Property Details for 17/328 Reserve Rd, Cheltenham
Last Listing description (September 2023)
POINT OF INTEREST:
Acute (and local) investors will instantly recognise that this asset is located on Bayside's "better side" of the Nepean Highway, but that isnt just where the value lies. The leasing terms are a leading selling point on their own, with a four-year agreement in place beginning from January 2023, and a three-year option to follow. Youll receive $33,000 per annum in rental income for a boutique office that comes in at 102 sqm*, 3 car spaces allocated, and centrally controlled air conditioning. The Onyx cafe on-site services the impressive commercial hub number 17 presides in, but this spot is also surrounded by Cheltenhams best. Southland is a kilometre away, the associated railway station too, while Beach Road is only 2.2 km* from here. Bay Road is just around the corner and has eateries like The Food Yard and Bad Shepherd Brewing Co, with big-name retailers like Dan Murphys and Bridgestone getting in on the action.
- 102 sqm* building area.
- Commercial 2 zoning.
- 3 car spaces on title.
- 1 km* to Southland and the railway station.
- 1 km* from the Nepean Highway.
Tenancy Details:
- Leased to AN1 Media Pty Ltd
- 4 year lease from January 2023, with a 3 year option.
- $33,000 per annum leasing income.
- Annual4% increases, market review at option.
- Tenant pays all outgoings (Non-Retail Lease).
POINT OF VIEW:
Weve brought a strong tenant agreement, boutique asset, and Baysides premier location to the table. Bring us your portfolio and the table is set for nothing but success.
*Approx.
Pricing excludes GST
Property History for 17/328 Reserve Rd, Cheltenham, VIC 3192
- 27 Sep 2023Sold for $560,000
- 11 Jul 2023Listed for Sale Contact Agent
- 10 Sep 2014Sold for $473,000
Recent sales nearby
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About Cheltenham 3192
The size of Cheltenham is approximately 10.6 square kilometres. It has 26 parks covering nearly 19.1% of total area. The population of Cheltenham in 2016 was 22291 people. By 2021 the population was 23992 showing a population growth of 7.6% in the area during that time. The predominant age group in Cheltenham is 30-39 years. Households in Cheltenham are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cheltenham work in a professional occupation.In 2021, 70.00% of the homes in Cheltenham were owner-occupied compared with 71.00% in 2016.
Cheltenham has 15,148 properties. Over the last 5 years, Houses in Cheltenham have seen a 28.65% increase in median value, while Units have seen a 15.77% increase. As at 31 December 2025:
- The median value for Houses in Cheltenham is $1,312,269 while the median value for Units is $725,359.
- Houses have a median rent of $720 while Units have a median rent of $550.
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