164 Weatherall Road, Cheltenham, VIC 3192

Retail | Development/Land | Offices

Sold

  • Property ID: 441624
  • Floor Area: 72.5m²
  • Land Area: 214m²
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold 29/03/2024 72.5m2 214m2 Contact Agent
Entry Level Freehold With All Of The Upside.

POINT OF INTEREST:

On paper, this is an accessible entry point into Bayside’s fiercely localised and lucrative market. On closer inspection, this may be Cheltenham’s most strategic dark horse — with everything from park frontage to residential development heading to the skies. And all with a freehold title. That’s right – no owners corporation here.

Mixed-use in every sense of the term, the building itself has been built for retail use amongst this local strip. As a freehold title, the lot comes to 214 sqm* to play with, a 72.5 sqm* building, and a difference of 142 sqm* of additional land at the rear. To be sold with vacant possession, there’s no other vacancy in the area with a local pizza and pasta joint, a bakery, a pet groomer, Bottlemart, and a yoga studio. The classic localized retail strip.

The rear right of way access behind the shops makes for exceptional access to future development of the rear land. Invest now, develop a little later. We could see a retail offering on the ground floor with a boutique residential build behind, climbing to a two-level height to enjoy the views of the oval and over to the golf course. You wouldn’t be the first; the neighbour to the left has completed exactly that. And when you can say that you have Mentone Beach, the Frankston line, and Southland Shopping Centre within your one-kilometre orbit, the marketing campaign wouldn’t last a day.

- 72.5 sqm* total building area.
- 142 sqm* of additional vacant land.
- Freehold title: 214 sqm* total land area.
- Rear right of way access.
- Commercial 1 zoning.
- Strong development potential for retail on-ground and residential of 2 levels.
- Strong development precedence next door.
- Located opposite Jack Barker Oval, home to Cheltenham Football and Cricket Club.
- 1 km* to Nepean Highway.
- 700 m* from Cheltenham railway station.
- 1.5 km* to Mentone Beach.
- 1.3 km* to Southland Shopping Centre.

POINT OF VIEW:

A park-fronting package with a six-point lead over the competition. The price point gives an advantage left, right, and centre, and now every kind of savvy Cheltenham buyer has skin in the game

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Immediate.
  • Car Spaces: Ample on site.
  • Condition: Fair
  • Floors: Concrete
  • Lifts: NA
  • Car Parking Fees: Nil.
Outgoings
  • Water Rates: $1,317.80
  • Land Tax: single holding $1,225
  • Council Rates: $1,557.27
Cheltenham Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial $5030 $182 3.62%
Retail $5871 $333 5.66%
Offices $5588 $323 5.77%
This is the average advertised price, rent and yield for Cheltenham, VIC 3192*

Days on Market
Time between initial ad placement and the listing’s withdrawal

Days on Market data for Retail in VIC for Sale

The spread of Days on Market is summarised into 4 time-bands (or quartiles) for each segment.
Understanding market expectations is skewed towards examining changes in the shortest duration quartile (fastest 25%)

Transactions per Month

* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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