547-567 Bell StreetPreston VIC 3072
Property Details for 547-567 Bell St, Preston
Last Listing description (August 2022)
VALUE ADD, OCCUPY, RE-POSITION OR LANDBANK AN ICONIC OPPORTUNITY WITH UNPRECEDENTED EXPOSURE UNDER 9KM FROM THE MELBOURNE CBD
Under instructions from Baptcare, CBRE Australian Healthcare & Social Infrastructure are excited to present 547-567 Bell Street, Preston. With vacant residential accomodation having become increasingly popular amongst occupiers, investors and healthcare/accommodation conversion users, an opportunity this close to the Melbourne CBD is rarely offered and further consideration is recommended.
OVERVIEW
+Former residential accomodation with dual street frontage and valuable rear lane-way access
+Highly valuable, multi-level existing improvements featuring 48 rooms (all w/ensuite)
+Corner landholding of 2,637sqm* zoned General Residential allowing for numerous end uses including occupation, value-add, redevelopment, land-banking, NDIS Accommodation or healthcare conversion (STCA)
+Existing building area of 1,850sqm* maintained to an impressive standard with on-site parking for 29 vehicles plus bike storage
+Multiple points of access via Bell or Scotia Streets with full at-grade access, pickup/drop-off entrance and ample surrounding street parking
LOCATION
+High exposure location with over 15,000* vehicles passing daily
+Strong historical growth location with Preston's median house price having increased 33% over the past three years (Q2 2019 - Q2 2022)*
+Surrounded by blue-chip suburbs including Northcote, Brunswick and Thornbury all of which have seen a meteoric rise in popularity over the past half-decade
+Ideally positioned moments from dense retail, education and community amenity including Preston South shopping centre, Ray Bramham Gardens, Bowden Reserve, Melbourne Polytechnic, Sacred Heart School, Preston Highschool and more
+Highly favourable demographic trends for healthcare with 20%* of the population aged over 70 years old.
For Sale Via Expressions of Interest closing Thursday 25th August at 2:00pm
For more information please contact the exclusive sales and marketing agents
Sandro Peluso
+61 418 389 757
Jimmy Tat
+61 439 399 118
Marcello Caspani-Muto
+61 417 065 777
Property History for 547-567 Bell St, Preston, VIC 3072
- 29 Aug 2022Sold - Price Undisclosed
- 18 Jul 2022Listed for Sale Contact Agent
- 21 May 2010Listed for Rent - Price not available
Recent sales nearby
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About Preston 3072
The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2016 was 32851 people. By 2021 the population was 33790 showing a population growth of 2.9% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation.In 2021, 57.30% of the homes in Preston were owner-occupied compared with 56.70% in 2016.
Preston has 21,600 properties. Over the last 5 years, Houses in Preston have seen a 19.15% increase in median value, while Units have seen a 13.68% increase. As at 31 December 2025:
- The median value for Houses in Preston is $1,235,570 while the median value for Units is $633,025.
- Houses have a median rent of $625 while Units have a median rent of $550.
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