191-195 Springvale Road, Springvale, VIC 3171 | Property Value & History | OnTheHouse
 
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191-195 Springvale Road
Springvale VIC 3171

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Land area: 1118m2
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Property Details for 191-195 Springvale Rd, Springvale

Building Type
Commercial
Land Size
1118m2
Local Government
Greater Dandenong
Lot/Plan
36/LP11144

Last Listing description (November 2020)

Located in a bustling position of Springvale, these two (2) showrooms come permit approved for a mixed-use development. The property is surrounded by thriving amenity and offers either development potential or building value with scope to owner-occupy the 2 titles.

Permit approved for a mixed-use development including retail and apartments
Plans for 42 apartments and 2 ground floor retail tenancies over 6 levels plus basement

Offering oversized apartments with an abundance of natural light, the plans provide 3,279 sqm of NSA
The development is designed by the renowned architectural firm, Architectus
Ability to increase the number of apartments or convert the permit to build-to-rent or hotel (STCA)
Zoned Commercial 1 Zone (C1Z), the property is situated within the Springvale Activity Centre
The property offers ideal connectivity as its located meters to Springvale train station, near main arterial roads, and may well benefit from the proposed Suburban Rail Loop
A plethora of retail amenity moments from the property including Springvale Shopping Centre, Springvale Junction, Springvale Homemaker Centre, M City, and a myriad of cafes/ restaurants
Close to Monash University and Monash Hospital, both of which are expected to experience further expansion over the next decade

The property is for sale via Expressions of Interest closing 3:00 pm on Thursday the 19th of November. For further information or to discuss the opportunity in detail, please contact Gross Waddell directly.

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Property History for 191-195 Springvale Rd, Springvale, VIC 3171

A timeline of how this property has performed in the market
Last Sold
$2,775,000
20 Jul 2021
  • 20 Jul 2021
    Sold for $2,775,000
  • 04 Feb 2021
    Listed for Sale Contact Agent
  • 13 Oct 2020
    Listed for Sale Contact Agent
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About Springvale 3171

The size of Springvale is approximately 11.0 square kilometres. It has 14 parks covering nearly 3.8% of total area. The population of Springvale in 2016 was 21714 people. By 2021 the population was 22174 showing a population growth of 2.1% in the area during that time. The predominant age group in Springvale is 20-29 years. Households in Springvale are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Springvale work in a labourer occupation.In 2021, 54.70% of the homes in Springvale were owner-occupied compared with 56.20% in 2016.

Springvale has 11,366 properties. Over the last 5 years, Houses in Springvale have seen a 18.84% increase in median value, while Units have seen a 19.17% increase. As at 31 December 2025:

  • The median value for Houses in Springvale is $981,004 while the median value for Units is $606,199.
  • Houses have a median rent of $580 while Units have a median rent of $540.
There are currently 57 properties listed for sale, and 36 properties listed for rent in Springvale on OnTheHouse. According to Cotality's data, 417 properties were sold in the past 12 months in Springvale.

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