369B Springvale Road

Springvale

VIC

Australia

3171

Opportunity to invest in the Springvale CBD doesn't come along every day.
369B Springvale Rd gives you the chance to invest in the progressive vibrant outer eastern suburb of Springvale. Springvale's development in recent years has gone ahead in leaps and bounds with a mix of retail shops and apartment blocks within its CBD. With a noticable increase in the number of professional service providers and medical clincs, a new underground railway station reducing traffic congestion on Springvale Rd leading to better traffic flow are just a few examples. In addition, community support from the local council includes the staging of several cultural and seasonal festivals during the year attracting a mix of people from all over Melbourne, boosting the suburbs appeal.
The current tenant is a branch office of a large group of personal injury lawyers providing legal services and advice to people injured at work, in a motor vehicle or anywhere else. This branch office spreads over 3 shops on the corner of Springvale Rd and Union Grove.
Leased at 3 x 3 x 3. Commenced in Oct 2022 at $39600 pcm including GST.
Terms includes 3% annual rental increase.
Springvale Overview
The suburb of Springvale is approximately 11 square kilometres and incorporates 14 parks covering nearly 3.8% of total area. Springvale's population in 2011 was 19,770 people increasing to 21,697 by 2016 showing a population growth of 9.7% 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 with most engaged as labourers. The percentage of owner-occupied homes in Springvale in 2011 was 57.4% increasing to 56.2% in 2016. Current median sales price of houses in the area is $880,000.