10-16 Ocean Beach RoadSorrento VIC 3943
Property Details for 10-16 Ocean Beach Rd, Sorrento
Last Listing description (September 2021)
CBRE Melbourne Strip Retail Investments in conjunction with Prentice Real Estate, present to the market 10-16 Ocean Beach Road, Sorrento for sale via public on-site auction Saturday 10th March 2018 at 12:00pm.
We highlight some key features below:
- 7 year lease (plus 2 x 5 year options) to flagship Country Road store that has dominated trade on the Peninsula, seeing the retailer take on additional storage space to meet year-round customer demand
- A landmark, six-time award winning store that has recently undergone approximately $2million in capital works
- Strong underlying land value (750 sqm*) with future development possibilities given favourable zoning, rear lane access and rare 20 metre* frontage
- Providing an annual income of $279,505^, 100% paid by the highly successful Country Road Clothing Pty Ltd, wholly owned by internationally listed Woolworths Pty Ltd
*Approx
*Approx as at March 2018
For sale via public on-site auction Saturday 10th March 2018 at 12:00pm
CBRE Melbourne Strip Retail Investments
Rorey James
+61 439 400 081
Bianca Butterworth
+61 410 558 126
Mark Wizel
+61 409 809 868
Prentice Real Estate
Max Prentice
+61 419 304 707
Property History for 10-16 Ocean Beach Rd, Sorrento, VIC 3943
- 02 Sep 2021Listed for Sale SOLD - $7,125,000
- 10 Mar 2018Sold for $7,125,000
- 02 Feb 2018Listed for Sale Not Disclosed
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0About Sorrento 3943
The size of Sorrento is approximately 7.0 square kilometres. There are 9 parks, covering nearly 32.0% of the total area. The population of Sorrento in 2016 was 1592 people. By 2021 the population was 2013 showing a population growth of 26.4% in the area during that time. The predominant age group in Sorrento is 70-79 years. Households in Sorrento are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Sorrento work in a managers occupation.In 2021, 83.70% of the homes in Sorrento were owner-occupied compared with 82.20% in 2016.
Sorrento has 3,717 properties. Over the last 5 years, Houses in Sorrento have seen a -15.01% decrease in median value, while Units have seen a -14.15% decrease. As at 31 July 2026:
- The median value for Houses in Sorrento is $1,767,749 while the median value for Units is $870,282.
- Houses have a median rent of $750 while Units have a median rent of $638.
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