291 Wattletree RoadMalvern East VIC 3145
Property Details for 291 Wattletree Rd, Malvern East
Last Listing description (October 2018)
GormanKelly is pleased to offer 291-293 Wattletree Road, Malvern for sale by Auction on Wednesday 22nd August 2018, at 12 noon on-site.
This property presents the ultimate in commercial flexibility with the ability to owner occupy part of the premises now and fully occupy at expiry of the Lease on Level 1 as of March 2021. Alternatively, the building is well maintained and there is nothing to spend in order to renew the existing Lease or attract new tenants.
Ultimately, the property presents an excellent opportunity to develop with zoning that will allow for both residential and commercial outcomes (STCA).
Two level standalone office/retail premises of 388m2* with large rear car park;
Land area 460m * / Zoned Commercial 1;
Ground Floor office/ retail space of 193m2* plus first floor office of 195m2* with independent entrances from
Wattletree Road and flexibility for use by one or two occupants;
Ground Floor offered with vacant possession;
First Floor leased to Collins Partners, currently returning $59,282* net per annum on a 3 year Lease expiring
28th February 2021 with no further Option to renew;
Potential estimated total rental income of approximately $120,000* net per annum plus GST and outgoings;
Suitable for owner occupiers providing the opportunity to immediately occupy the Ground Floor space and
Level 1 in March 2021;
Exceptional development potential with 10m* wide frontage to Wattletree Road and rear laneway access;
Low site coverage (approx 41%);
Located within the busy and tightly held Wattletree Road retail precinct, close to public transport and Malvern
Central (1.4km) and in the heart of the Malvern Medical Precinct only minutes to Cabrini Hospital.
Property History for 291 Wattletree Rd, Malvern East, VIC 3145
- 22 Aug 2018Sold for $2,915,000
- 19 Jul 2018Listed for Sale Not Disclosed
- 31 Oct 2017Listed for Rent - Price not available
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0About Malvern East 3145
The size of Malvern East is approximately 7.7 square kilometres. There are 25 parks, covering nearly 14.3% of the total area. The population of Malvern East in 2016 was 21707 people. By 2021 the population was 22296 showing a population growth of 2.7% in the area during that time. The predominant age group in Malvern East is 20-29 years. Households in Malvern East are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Malvern East work in a professional occupation.In 2021, 66.90% of the homes in Malvern East were owner-occupied compared with 64.90% in 2016.
Malvern East has 12,930 properties. Over the last 5 years, Houses in Malvern East have seen a -1.68% decrease in median value, while Units have seen a -4.47% decrease. As at 31 August 2026:
- The median value for Houses in Malvern East is $2,199,907 while the median value for Units is $693,787.
- Houses have a median rent of $895 while Units have a median rent of $578.
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