79 Ormond Road,
Elwood, VIC 3184

Development Sites & Land • Shops & Retail • Other

Key property information

Land area

Floor area

Zoning

Tenure type

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Map of 79 Ormond Road

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Freehold Apartment & Retail Block in Exclusive Elwood Village

Whole block of 16 units + 2 shops
Add Value, Revert Rents, Strata Title
870sqm* C1Z corner landholding

CBRE Melbourne Metropolitan Sales is offering for sale a prized investment & development opportunity, situated in one of Melbourne’s most desirable bayside suburbs at 79 Ormond Road, Elwood.

Key details include:

+ Substantial mixed-use complex of 16 residential units and two ground floor shops, providing an opportunity to refurbish, extend or redevelop (STCA)

+ 870sqm* corner landholding with Commercial 1 Zoning, extensive street exposure one of Bayside Melbourne’s most well known retail precincts and on-site car parking for each residential unit

+ 15 of the residential units comprise a bedsitter residence with kitchen, lounge and bathroom accommodation in addition to the penthouse apartment commanding a higher weekly rent with views overlooking The Elwood Village

+ The property provides an opportunity to capitalise on Melbourne’s surging residential market and substantially increase the rents through value-add enhancement and leasing strategies

+ Positioned within a premier blue ribbon & tightly held residential market, close to prestigious bayside suburbs with median house prices amongst the highest in Melbourne

This highly sought after and seldom found investment is available for sale.

Contact CBRE for more information and to organise an inspection.

Nathan Mufale
+61 421 224 3...
nathan.mufale@cbre.com.au

Alex Brierley
+61 447 974 4...
alex.brierley@cbre.com.au

David Minty
+61 422 564 1...
david.minty@cbre.com.au

Scott Hawthorne
+61 400 861 0...
scott.hawthorne@cbre.com.au

CBRE Asian Services Desk:
Jing Jun (JJ) Heng 王敬君 (中文普通话咨询物业详情)
+61 411 059 116 (手机)
jj.heng@cbre.com (电子邮件)
jheng1206 (微信)

*Denotes Approx.

Elwood, 3184 demographic data

The median household income for Elwood is $2,096, 10% higher than Greater Melbourne's household income of $1,901. Elwood has an older age profile compared to the rest of Greater Melbourne (median age 38 vs 37). Property ownership data shows 55% of property owners in Elwood have a mortgage.

15,153

Population

$2,096 per week

Median household income

38 years

Median age

Renters

Most residents

Families

Most households

CBRE - VIC

Level 34, 8 Exhibition Street
MELBOURNE, VIC 3000