16-32 Rakaia Way, Docklands, VIC 3008 | Property Value & History | OnTheHouse
 
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16-32 Rakaia Way
Docklands VIC 3008

Bedrooms: 3
Bathrooms: 2
Car spaces: 2
Floor area: 120m2
Land area: 3175m2
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Property Details for 16-32 Rakaia Way, Docklands

16-32 Rakaia Way, Docklands is a 3 bedroom, 2 bathroom Unit with 2 parking spaces and was built in 2001. The property has a land size of 3175m2 and floor size of 120m2. While the property is not currently for sale or for rent, it was last sold in November 2016.

Building Type
Unit
Year Built
2001
Floor Size
120m2
Land Size
3175m2
Local Government
Melbourne
Lot/Plan
2/PS434030

Last Listing description (December 2016)

The property is located in a prime corner position in the heart of New Quay's retail precinct and benefits from spectacular views over Victoria Harbour and Melbourne magnificent skyline.
MP Burke Commercial is delighted to offer for sale this prized investment leased to the award winning 'Bhoj Indian Restaurant'.
Bhoj Indian Restaurant has operated at 54 Newquay Promenade for 12+ years, making it one of Docklands most established long term businesses.

Other key features;
High yielding blue chip waterfront investment
Located in the heart of New Quay Promenade with two large frontages
Lease Term: 5 + 5 + 5 + 5 years (commencing 1st March 2016)
Leased to award winning Bhoj Indian Restaurant
Impressive freehold including exclusive alfresco outdoor dining area

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Property History for 16-32 Rakaia Way, Docklands, VIC 3008

A timeline of how this property has performed in the market
Last Sold
$1,700,000
29 Nov 2016
Listed for Rent
19 Feb 2015
  • 29 Nov 2016
    Sold for $1,700,000
  • 09 Apr 2016
    Listed for Sale Not Disclosed
  • 12 Jun 2015
    Listed for Sale Price on Application
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About Docklands 3008

The size of Docklands is approximately 2.8 square kilometres. It has 12 parks covering nearly 5.3% of total area. The population of Docklands in 2016 was 10964 people. By 2021 the population was 15495 showing a population growth of 41.3% in the area during that time. The predominant age group in Docklands is 30-39 years. Households in Docklands are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Docklands work in a professional occupation.In 2021, 30.30% of the homes in Docklands were owner-occupied compared with 34.50% in 2016.

Docklands has 18,967 properties. Over the last 5 years, Houses in Docklands have seen a 35.90% increase in median value, while Units have seen a -0.52% decrease. As at 30 April 2026:

  • The median value for Houses in Docklands is $2,724,617 while the median value for Units is $597,421.
  • Houses have a median rent of $730 while Units have a median rent of $700.
There are currently 65 properties listed for sale, and 27 properties listed for rent in Docklands on OnTheHouse. According to Cotality's data, 763 properties were sold in the past 12 months in Docklands.

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© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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