GROUND FLOOR/47A Wangara RoadCheltenham VIC 3192
Property Details for Ground Floor/47a Wangara Rd, Cheltenham
Last Listing description (November 2021)
***EXPRESSIONS OF INTEREST CLOSED***
Fitzroys is delighted to offer for sale this impressive Corporate Office Investment located within Bayside's rapidly developing Bayside Business District and surrounded by excellent lifestyle amenities.
The key attributes of this impressive investment include:
- Substantial 2 level corporate office building plus on-site car parking of 70 spaces
- Total Building Area: 1,648sqm with flexible open plan layout
- Total Current Rent: $365,580.00 per annum plus outgoings and GST.
- Leased to quality tenants comprising of New Balance Pty Ltd and Ability Plus Disability Services.
- Excellent transport amenities nearby with the immediate convenience of Southland Shopping Centre, Southland Station, ALDI Supermarket, Dan Murphy's and more.
New Balance Pty Ltd (Occupy 50% of the building)
- Current Rent: $253,000 per annum plus all outgoings (including Land Tax) and GST.
- Leased from July 2018 for 5 years plus options through to July 2028.
Ability Plus Disability Services Pty Ltd
- Current Rent: $112,486 per annum plus all outgoings (including Land Tax) and GST.
- Leased from July 2018 for 5 years with options through to July 2028.
* Both Tenants not subject to the Retail Lease Act.
Vacant part first floor office available for lease or owner occupation.
-Area: 435sqm approx. plus onsite parking.
Potential fully leased income: $495,000 per annum plus all outgoings and GST approx.
Cheltenham is a booming south eastern suburb 18km south-east of Melbourne CBD with a median house price of $1,162,000, (10.2% up since Sep 2020) and population forecast to grow 26.4% by 2041.
47A Wangara Road, Cheltenham presents an outstanding opportunity to acquire a highly impressive corporate office investment with the flexibility to occupy or re-lease a portion of the building while enjoying solid rental income from exceptional Tenants all located in a popular business/lifestyle precinct.
Property History for Ground Floor/47a Wangara Rd, Cheltenham, VIC 3192
- 29 Oct 2021Sold for $6,400,000
- 30 Sep 2021Listed for Sale Contact Agent
- 26 Jun 2019Listed for Rent - Price not available
Recent sales nearby
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0About 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 15,162 properties. Over the last 5 years, Houses in Cheltenham have seen a 9.78% increase in median value, while Units have seen a 8.13% increase. As at 30 April 2026:
- The median value for Houses in Cheltenham is $1,288,289 while the median value for Units is $727,334.
- Houses have a median rent of $750 while Units have a median rent of $575.
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