This development project offers a fantastic opportunity for astute investors to take the initiative and secure the freehold of a unique residential/commercial premises ideal for an owner operator of your own business or as a capital growth investment providing great rental returns.
Each individual property offers a stylish ground floor shop/office space of approximately 40 Squares with street frontage and ample parking facilities and a modern three bedroom apartment which has been cleverly designed to maximise the use of the available space allowing for generous living and entertaining areas.
The ground floor residential component consists of two bedrooms with built in robes, master with en-suite, an open modern kitchen and dining/living area and central family bathroom. Each apartment has access from the front and rear with private parking for 2 cars at the rear.
The size of Tootgarook is approximately 3.5 square kilometres. It has 10 parks covering nearly 6.7% of total area. The population of Tootgarook in 2016 was 2869 people. By 2021 the population was 3178 showing a population growth of 10.8% in the area during that time. The predominant age group in Tootgarook is 50-59 years. Households in Tootgarook are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Tootgarook work in a trades occupation.In 2021, 67.80% of the homes in Tootgarook were owner-occupied compared with 67.40% in 2016.
Tootgarook has 2,982 properties. Over the last 5 years, Houses in Tootgarook have seen a 12.53% increase in median value, while Units have seen a 34.16% increase. As at 31 January 2026:
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