29 Yuilles RoadMornington VIC 3931
Property Details for 29 Yuilles Rd, Mornington
Last Listing description (May 2021)
Auction Wednesday 19th May 2021 at 12.30pm on site.
A remarkable opportunity to purchase a double frontage mixed-use development site in Mornington on the Mornington Peninsula.
Moments from Main Street retail precinct and across the road from Flinders Park, this property ticks all the boxes when it comes to an opportunity to occupy, invest, add-value to the existing improvements or completely redevelop the site (STCA).
Currently occupied by two tenants, Bays Auto Paints at 29-31 Yuilles Rd (since 2004) and a residential property at 32 Wood St on a monthly tenancy.
The commercial lease expires in April 2022, providing the option for vacant possession, however, the tenant has expressed a strong interest to renegotiate a new long term lease.
The property offers an income stream provided by both tenancies with the potential to either develop the site around the existing premises or start from scratch, the choice is yours.
Further benefits of this irreplaceable site include:
* Significant land holding of 907sqm*
* Building area: 190sqm (29-31 Yuilles Road)
* Two bedroom residential property (32 Wood Street)
* Two street frontages (Yuilles Rd & Wood St)
* Prime Commercial 1 Zoning
* Double fronted retail with stable income
* Perfect investment, redevelopment or value- add site (STCA)
* Terms: 10% deposit, balance 30/60 days
For further information or to arrange an inspection, please contact:
Jamie Stuart - 0412 565 562
Tanya Scagliarini - 0438 289 859
Josh Monks - 0409 335 179
PLEASE NOTE:
* Inspections are carried out in accordance with strict Covid-19 Directions. For further details contact the Estate Agent.
* All information and measurements are approximates. All images subject to copyright. Unauthorised use is strictly prohibited.
Property History for 29 Yuilles Rd, Mornington, VIC 3931
- 11 May 2021Sold for $1,920,000
- 09 Apr 2021Listed for Sale Contact Agent
- 14 Sep 2016Listed for Sale Not Disclosed
Recent sales nearby
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About Mornington 3931
The size of Mornington is approximately 21.3 square kilometres. There are 58 parks, covering nearly 13.4% of the total area. The population of Mornington in 2016 was 23989 people. By 2021 the population was 25759 showing a population growth of 7.4% in the area during that time. The predominant age group in Mornington is 70-79 years. Households in Mornington are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mornington work in a professional occupation.In 2021, 73.30% of the homes in Mornington were owner-occupied compared with 71.60% in 2016.
Mornington has 15,794 properties. Over the last 5 years, Houses in Mornington have seen a 3.12% increase in median value, while Units have seen a 12.25% increase. As at 30 June 2026:
- The median value for Houses in Mornington is $1,163,680 while the median value for Units is $832,745.
- Houses have a median rent of $745 while Units have a median rent of $618.
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