54-56 Ocean Beach RoadSorrento VIC 3943
Property Details for 54-56 Ocean Beach Rd, Sorrento
Last Listing description (September 2021)
OVERVIEW
+ Freestanding retail investment centrally located in the renowned main street of Sorrento
+ 5-year net lease, providing a net annual income of $112,617^ (after land tax), 100% paid by Sportsgirl (subsidiary of Sussan Group)
+ Strong underlying land value (574sqm*) with future value add possibilities given favourable commercial zoning, lease structure & surplus land at rear (STCA)
+ Includes rear lane access onto major council car park plus rare 10.1 Metre* frontage
LIFESTYLE
+ Mornington Peninsula's most prestigious location famed for its premier national retailers, beachside charm & its infamous Millionaire's Walk
For Sale via Public On-Site Auction Saturday 9th March 2019 at 11.00am (AEDT)
For further information contact the exclusive selling agents:
Rorey James
+61 439 400 081
Mark Wizel
+61 409 809 868
Nic Hage
+61 448 782 594
Jing Jun Heng
+61 411 059 116
*approx
Property History for 54-56 Ocean Beach Rd, Sorrento, VIC 3943
- 02 Sep 2021Listed for Sale SOLD - $4,070,000
- 09 Mar 2019Sold for $4,070,000
- 01 Feb 2019Listed 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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