1025 Frankston-Flinders Road, Somerville, VIC 3912 | Property Value & History | OnTheHouse
 
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1025 Frankston-Flinders Road
Somerville VIC 3912

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2086m2
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Property Details for 1025 Frankston-Flinders Rd, Somerville

Building Type
Commercial
Land Size
2086m2
Local Government
Mornington Peninsula
Lot/Plan
PC361039

Last Listing description (October 2021)

+ Brand new 12 year net lease to 2033 plus options to 2063.
+ United Petroleum: Top-tier tenant, one of Australia's largest and fastest growing independent fuel retailers with over 450 sites nationally.*
+ Secure, set-and-forget net lease structure with tenant responsible for council rates, water rates, insurance and repairs and maintenance.

+ Strong and certain rental growth with annual, fixed compounding 2.5% increases.
+ Large 2,086sqm site strategic positioned as the first service centre off the Peninsula Link homebound side.
+ Within 550 metres of Somerville's retail hub which includes 2 major shopping centres anchored by multiple national tenants such as Coles, Woolworths, Target and McDonalds.
+ Situated within 200m of Somerville's Industrial precinct which has a strong focus to port businesses being so close to Western Port Bay.
+ Mornington Peninsula, one of Victoria's leading tourism destinations and booming drive holiday market with domestic spend of $742million*****
+ Surrounded by important social infrastructure, including 5 schools within 3km servicing a combined 1,157 full-time students.**
+ By 2036, The Mornington Peninsula shire population is forecast to grow by 7.71% to 181,097 people****
+ Minimum management, essential service investment.
+ Net Rent: $172,375 pa

For Sale by Investment Portfolio Auction
11am (AEST) Tuesday 28 September 2021

*United Petroleum
**Gapmaps
****forecast.id
***** business.vic.gov.au

*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.

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Property History for 1025 Frankston-Flinders Rd, Somerville, VIC 3912

A timeline of how this property has performed in the market
Last Sold
$3,625,000
28 Sep 2021
Listed for Rent
16 Sep 2016
  • 28 Sep 2021
    Sold for $3,625,000
  • 26 Aug 2021
    Listed for Sale Price on Request
  • 29 Aug 2016
    Listed for Rent - Price not available
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About Somerville 3912

The size of Somerville is approximately 38.4 square kilometres. It has 30 parks covering nearly 5.7% of total area. The population of Somerville in 2016 was 11336 people. By 2021 the population was 11767 showing a population growth of 3.8% in the area during that time. The predominant age group in Somerville is 50-59 years. Households in Somerville are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Somerville work in a trades occupation.In 2021, 79.80% of the homes in Somerville were owner-occupied compared with 77.30% in 2016.

Somerville has 5,880 properties. Over the last 5 years, Houses in Somerville have seen a 31.47% increase in median value, while Units have seen a 27.63% increase. As at 31 December 2025:

  • The median value for Houses in Somerville is $938,275 while the median value for Units is $619,961.
  • Houses have a median rent of $650 while Units have a median rent of $565.
There are currently 23 properties listed for sale, and 3 properties listed for rent in Somerville on OnTheHouse. According to Cotality's data, 273 properties were sold in the past 12 months in Somerville.

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