145 Nicholson Street, Footscray, VIC 3011

Retail

Sold

Sold

  • Property ID: 450217
  • Floor Area: 200m²
  • Land Area: 120m²
Sold / Leased Results

Name Result Date Floor Land Result Price
Total Sold 15/11/2024 200m2 120m2 Contact Agent
A FRONT-ROW SEAT TO FOOTSCRAYS GROWTH. 6.5%+ YIELD INVESTORS.

POINT OF INTEREST:

Situated in the heart of Footscray, this mixed-use freehold property is for those who have an appetite for lucrative decisions. Returning a high yield of 6.5+%, the 200 sqm* building is split into a 120 sqm* retail space with all the trimmings of an office and a separated upstairs large 2-bedroom apartment over 82 sqm* — both are happily leased and returning a combined $48,771 + GST per annum.

Downstairs Lease Information:
Tenant: Sabban Accountants & Business Consulants Pty Ltd
Income: $31,827 pa net (February 2025)
Lease Terms: 5 + 5 + 5 years
Commencement: 1st February 2023
Tenant pays 100% of entire building outgoings (not including land tax)

First Floor Lease Information:
Tenant: Residential tenant
Income: $16,944 per annum ($325 per week)
Lease Term: Monthly
Rental increase is due

From the outside, the building has street appeal aplenty, with a heritage-looking facade, street frontage and signage opportunities. Within a five-minute walking radius, you’ve got everything that makes Footscray a thriving ecosystem: from multicultural eateries to Broadsheet-acclaimed wine bars, the Footscray Market and a well-connected public transport system that takes you into the CBD in just two stops. Travel by car and you’re just 6.8 km* from the city, with your pick of Footscray Road, Dynon Road or Princes Highway to get you there.

Above all, it’s the suburb’s growth trajectory that makes this investment so enticing. Where most of inner-city Melbourne has seen steep price growth over the last ten years, Footscray now is the place to be at the right time, for the right price so you can sit back and watch as the curve keep trending upwards.

- Total building area: 200 sqm*
- High yielding investment: 6.5+%
- 120 sqm* ground floor retail.
- 82 sqm* large two-bedroom apartment above.
- $48,771 + GST in combined annual leasing income.
- Activity centre zoning prime for high density development (STCA)
- 130 m* from Footscray Railway Station.
- 6.8 km* from Melbourne CBD

POINT OF VIEW:

Footscray has a distinct flavour — and on Nicholson Street, it tastes like bustling commercial activity dished up with all the high yield-trimmings.

*Approx.
Pricing excludes GST

Additional Information
Features
  • Availability: Subject to a lease
  • Lease Term: Ground: 5 + 5 + 5 years. 1st Floor: Monthly
  • Rent Review: Ground: 3% per annum. 1st Floor: Due for rental increase.
  • Car Spaces: Ample on Nicholson St & Trugo Lane at the rear
  • Condition: Fair
  • Air Conditioning: Yes
  • Floors: Carpet / concrete
  • Lifts: NA
  • Car Parking Fees: Nil.
Outgoings
  • Land Tax: $1,950 pa* (2024)
  • Council Rates: $3,016.10 pa* (2024)
  • Owners Corp. / Insurance: NA
Footscray Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial --- $97 ---
Offices --- $849 ---
Retail $4563 $411 9.01%
This is the average advertised price, rent and yield for Footscray, VIC 3011*

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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