2/28 Riddell ParadeElsternwick VIC 3185
Property Details for 2/28 Riddell Pde, Elsternwick
Last Listing description (May 2021)
Shop 2 - Occupied by Cafe Institution Penta on a 10 Year Net Lease
Stonebridge Property Group are pleased to present for sale Shop 1, 28 Riddell Parade, Elsternwick
- High quality and well located 157* sqm retail premises, leased to popular local favourite Penta Caf (4.2 stars from 379 Google reviews) on a 10-year lease.
- Providing net annual income of $115,927* (as at 17th June 2021) subject to 3% annual increases, with tenant responsible for all outgoings except land tax.
- Penta is an established breakfast/lunch caf that is open 7 days a week and has been featured in popular forums, Broadsheet, Concrete Playground, Good Food Guide & The Urban List.
- The well exposed premises benefits from 10m* of street exposure, 2 car parks & storage cage.
- Located just a short 100m* walk from Elsternwick Station and only 50m* from the Glen Huntly Road retail precinct the property enjoys excellent accessibility for customers and high levels of daily foot traffic.
- Positioned within the mid-rise mixed use development Elsternwick Place, designed by award winning architect Jackson Clements Burrows and comprising 54 apartments + two levels of office space.
- Highly anticipated public & private projects surround the property, notably the new cultural precinct and the proposed Woolworths development both of which will draw foot traffic to the area details of these projects can be provided.
- Located walking distance from the Elsternwick Entertainment precinct in addition to the proposed Woolworths's development set to be a major driver of retail activity.
*Approx.
Shops 1 & 2, 28 Riddell Parade, Elsternwick are set to be sold via consecutive onsite public auctions Friday 7th May at 10.30am. To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
Rorey James
0439 400 081
Kevin Tong
0422 848 818
Property Code: 239
Property History for 2/28 Riddell Pde, Elsternwick, VIC 3185
- 06 May 2021Sold - Price Undisclosed
- 01 Apr 2021Listed for Sale Contact Agent
- 18 Oct 2019Listed for Rent - Price not available
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About Elsternwick 3185
The size of Elsternwick is approximately 2.6 square kilometres. It has 4 parks covering nearly 3.6% of total area. The population of Elsternwick in 2016 was 10349 people. By 2021 the population was 10887 showing a population growth of 5.2% in the area during that time. The predominant age group in Elsternwick is 30-39 years. Households in Elsternwick are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Elsternwick work in a professional occupation.In 2021, 58.80% of the homes in Elsternwick were owner-occupied compared with 61.10% in 2016.
Elsternwick has 6,728 properties. Over the last 5 years, Houses in Elsternwick have seen a -0.46% decrease in median value, while Units have seen a 1.73% increase. As at 28 February 2026:
- The median value for Houses in Elsternwick is $2,199,760 while the median value for Units is $712,848.
- Houses have a median rent of $699 while Units have a median rent of $595.
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