108-110 New StreetRingwood VIC 3134
Property Details for 108-110 New St, Ringwood
Last Listing description (June 2010)
INVEST OR OCCUPY ??? SWIMMING CENTRE IN GREAT LOCATION
It is difficult to imagine a better investment/business opportunity located in such a prime position in the heart of Ringwood. The property is currently leased for $132,617 per annum plus gst and outgoings, and has just under 2 years left to run on the lease. At the midpoint of the price range we are quoting on this property, the current rental income represents an 8% return on investment. Investments returning this level of yield are few and far between.
The property we are offering for sale is the land and all improvements which include an indoor swimming pool, huge car park and equipment required to heat and maintain an operational commercial swim facility.
There are many options available to anyone looking to purchase this unique opportunity. The first option would be to collect all rental payments until the end of the lease and terminate the lease at the expiration of the current lease. This would allow the buyer to utilize the facility to open your own learn to swim academy and build a fantastic business in the current facility. The advantages of opening a new academy in the premises that have been known to locals for 30-40 years are tremendous.
Alternatively, another option would include offering the current tenant a new lease after the expiration of the current lease and collect all future rental payments should the tenant choose to remain at the premises.
Ringwood itself is a fast paced growth city of Melbourne. Ringwood has been identified as a designated ???transit city??? by the state government and as a result millions of dollars of government and private sector money is being invested into the area. This is resulting and will continue to further enhance the infrastructure of Ringwood and encourage population growth moving forward over the next 10 years.
What a great investment opportunity this is.
Please call Ross Maxwell on 0418 523 360 to arrange an inspection.
Property History for 108-110 New St, Ringwood, VIC 3134
- 05 Jun 2010Sold for $1,600,000
- 30 Apr 2010Listed for Sale $1,500,000 - $1,800,000
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About Ringwood 3134
The size of Ringwood is approximately 10.2 square kilometres. There are 35 parks, covering nearly 13.2% of the total area. The population of Ringwood in 2016 was 17471 people. By 2021 the population was 19144 showing a population growth of 9.6% in the area during that time. The predominant age group in Ringwood is 30-39 years. Households in Ringwood are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Ringwood work in a professional occupation.In 2021, 57.80% of the homes in Ringwood were owner-occupied compared with 58.60% in 2016.
Ringwood has 12,417 properties. Over the last 5 years, Houses in Ringwood have seen a -4.31% decrease in median value, while Units have seen a 5.38% increase. As at 31 July 2026:
- The median value for Houses in Ringwood is $996,092 while the median value for Units is $649,207.
- Houses have a median rent of $650 while Units have a median rent of $565.
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