423 Nepean Hwy, Chelsea
Friday 24th March at 12noon on site
A classic shop and dwelling at 423 Nepean Highway, Chelsea is to be sold at auction on Friday March 17, 2017. With a total building area of around 283sqm on land of 340sqm (approx.), the property has three frontages including a side laneway. It is ideal for an owner occupier to operate a business, an investor to lease out, or a developer to re-develop and expand (STCA).
Chelsea has become a popular location for retirees, families and businesses in recent years, with residential housing prices growing strongly. James Glen, Senior Sales Executive at Nichols Crowder, explains, “People are seeing greater value in Chelsea’s beachside location and easy train line access. House and unit prices have increased strongly over the past 12 months, while growth in the number of townhouses and units has increased population density. These are positive drivers for commercial properties in Chelsea, such as at 423 Nepean Highway.”
According to realestateview.com.au, the median price for houses in Chelsea increased 14% over the 12 months through December 2016 to $902,500, with average annual growth of 11.7% over the past five years. Further, units increased 27% in the past twelve months to an average price of $603,000, with average annual growth of 12.1% since December 2011.
Julian Vautin, Sales and Leasing Executive, adds, “The new Woolworths supermarket just off Nepean Highway in Chelsea has brought in more shoppers and businesses to the area, and is likely to be a long-term driver for future growth in the area. This is expected to benefit 423 Nepean Highway, with strong demographics and flexible options for the new owner of the property being major bonuses.”
For further information, contact James Glen 0401 493 277 or Julian Vautin 0420 406 660.
NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.