293 Waverley RoadMalvern East VIC 3145
Property Details for 293 Waverley Rd, Malvern East
Last Listing description (March 2017)
RETAIL INVESTMENT WITH HUGE UPSIDE
GormanKelly is pleased to offer 293 Waverley Road, Malvern East, for sale by auction on Thursday 23 March at 12 noon, on-site.
This is a rare opportunity to secure a short term leased retail investment with huge development upside.
We believe the most outstanding aspects of this property include:
- Single storey building with low site coverage and good rear access
- Land area 242m2* / Zoned commercial 1
- Significant future development potential (STCA) for an owner occupier, investor or developer
- Building area 56m2*
- Short term lease until 31st March 2018
- Currently returning $24,500* p.a. net plus GST
- Located in busy retail strip with tram on the doorstep on Waverley Road and only a short walk to both East Malvern and Carnegie Railway Stations
- Easy access Monash Freeway, Caulfield Racecourse, Monash University and Cabrini Hospital
The property is positioned within a vibrant local retail strip, strongly serviced by the dense surrounding residential catchments and heavy thoroughfare of passing traffic and pedestrians. A highly desirable location, positioned within the heart of residential suburbs of Glen Iris, Malvern and Armadale and within close proximity to Chadstone Shopping Centre, Caulfield Racecourse and Monash University Caulfield Campus, to name a few.
Property History for 293 Waverley Rd, Malvern East, VIC 3145
- 23 Mar 2017Sold - Price Undisclosed
- 20 Feb 2017Listed for Sale Contact Agent
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About 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 12,951 properties. Over the last 5 years, Houses in Malvern East have seen a -2.64% decrease in median value, while Units have seen a -3.26% decrease. As at 31 July 2026:
- The median value for Houses in Malvern East is $2,269,530 while the median value for Units is $656,432.
- Houses have a median rent of $883 while Units have a median rent of $575.
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