LEVEL 1/522 Macaulay RoadKensington VIC 3031
Property Details for Level 1/522 Macaulay Rd, Kensington
Last Listing description (November 2017)
HIGH-PROFILE INVESTMENT / RETAIL OPPORTUNITY
In the heart of Kensington Village, this unique property (shopfront and residence/office above) presents an environment of space and versatility making it ideal for business owners and investors alike. Currently operating as a popular restaurant, the property is securely leased at $27K + GST + outgoings (indexed) until April 2019 with no options in place. With approx 150sqm of total floor space, features include a large downstairs retail/restaurant area, kitchen space, storeroom, north-facing courtyard with staff amenities and ROW access. Upstairs: residence or office comprising 4 principal rooms and bathroom. Complete with Commercial 1 Zoning (C1Z), it's also walking distance to local schools, recreational facilities and Kensington Station (2 stops to the CBD). Land size approx 182sqm.
Property History for Level 1/522 Macaulay Rd, Kensington, VIC 3031
- 16 Nov 2017Sold for $1,450,000
- 20 Oct 2017Listed for Sale $1,200,000 - $1,300,000
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About Kensington 3031
The size of Kensington is approximately 2.1 square kilometres. There are 19 parks, covering nearly 13.6% of the total area. The population of Kensington in 2016 was 10812 people. By 2021 the population was 10745 showing a population decline of 0.6% in the area during that time. The predominant age group in Kensington is 30-39 years. Households in Kensington are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Kensington work in a professional occupation.In 2021, 48.70% of the homes in Kensington were owner-occupied compared with 45.30% in 2016.
Kensington has 7,736 properties. Over the last 5 years, Houses in Kensington have seen a -13.78% decrease in median value, while Units have seen a -6.10% decrease. As at 31 July 2026:
- The median value for Houses in Kensington is $1,099,858 while the median value for Units is $556,240.
- Houses have a median rent of $740 while Units have a median rent of $600.
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