126-128 Murray Street, Colac, VIC 3250 | Property Value & History | OnTheHouse
OFF MARKET

126-128 Murray Street
Colac VIC 3250

Bedrooms: 3
Bathrooms: 2
Car spaces: 4
Floor area: 215m2
Land area: 290m2
Estimated Value & Rent
Estimated Value
Estimated Rent
Confidence
Last updated 12 Jan 2026
Low

High
Save

Property Details for 126-128 Murray St, Colac

126-128 Murray St, Colac is a 3 bedroom, 2 bathroom Unit with 4 parking spaces. The property has a land size of 290m2 and floor size of 215m2.

Building Type
Unit
Floor Size
215m2
Land Size
290m2
Local Government
Colac Otway

Last Listing description (January 2024)

'Norwich Chambers' is a charming, well maintained two-storey red brick building situated in the heart of Murray Street (Princes Highway), Colac. Built in 1907 for Charles Johnstone as an insurance office, the building is noted as an important example of a conservatively designed Federation Romanesque style single fronted commercial residential building.
On the second floor is beautifully presented apartment, offering two bedrooms, and two bathrooms plus an office. A large living and dining area is adjacent to a modern, well-appointed kitchen with electric appliances, dishwasher and huge pantry. The main bedroom has a large ensuite bathroom with spa, and there is a second smaller bathroom and European laundry. The office space would also double as a third bedroom if required. A large rear deck provides an outdoor entertaining area. The apartment is fully furnished and currently let at $450 per week. The apartment offer flexibility, as it has previously been operated as Airbnb, short term stay accommodation and would be a wonderful townhouse to occupy as you are within sight of Memorial Square, Woolworths, cafe and shops.
The ground floor has been the long-term home for a travel agency, and currently operates as Hello World travel, Australia's largest network of franchised travel agents. The travel business has operated from the building for more than 28 years. In February 2023 a new five-year net lease was signed, with three further five-year terms, demonstrating a long-term commitment to this premium location.

'Norwich Chambers' has rear lane access, with carparks onsite. It will provide an astute investor with a secure income of $57,231.85 per annum (+GST), with the security of annual CPI increases (applicable to commercial lease). The property will be eligible to benefit from the regional stamp duty concession of 50% currently available.

Property History for 126-128 Murray St, Colac, VIC 3250

A timeline of how this property has performed in the market
  • 19 Jun 2023
    Listed for Sale $950,000
  • 03 Jul 2011
    Listed for Sale FORTHCOMING AUCTION
  • 11 Mar 1995
    Listed for Sale Not Disclosed
Commute Calculator

About Colac 3250

The size of Colac is approximately 37.5 square kilometres. It has 20 parks covering nearly 2.3% of total area. The population of Colac in 2016 was 9048 people. By 2021 the population was 9243 showing a population growth of 2.2% in the area during that time. The predominant age group in Colac is 20-29 years. Households in Colac are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Colac work in a labourer occupation.In 2021, 65.80% of the homes in Colac were owner-occupied compared with 66.60% in 2016.

Colac has 5,760 properties. Over the last 5 years, Houses in Colac have seen a 33.26% increase in median value, while Units have seen a 15.82% increase. As at 31 December 2025:

  • The median value for Houses in Colac is $479,931 while the median value for Units is $344,256.
  • Houses have a median rent of $475 while Units have a median rent of $390.
There are currently 8 properties listed for sale, and 1 property listed for rent in Colac on OnTheHouse. According to Cotality's data, 260 properties were sold in the past 12 months in Colac.

Suburb Insights for Colac 3250

Market Insights
Colac Trends for Houses
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Colac Trends for Units
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.


Median Value over 1 year
Neighbourhood Insights
Age
Household
Occupancy
No data to show
Cotality Copyright and Legal Disclaimers about Property Data
Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.