3 Collingwood Rd, NEWPORT, Victoria, 3015

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Auctioned

Auctioned for $2,220,000 (May 19, 2018)

Premium Bayside Newport Development Opportunity

Collingwood road is one of the most coveted addresses in Bayside Newport, close to The Strand waterfront, parklands and excellent schools. This former dairy site from c1928 of approximately 1,095 square metres presents a very rare and exciting development opportunity. There is great potential to capitalise on this outstanding address with a 20.11 m frontage and have it realise a very substantial return (STCA). Double storey improvements could potentially provide spectacular views. The current brick home is in excellent condition, generously proportioned and comfortable to occupy or lease during your development planning phase.

The opportunity to secure a prime landholding with significant development potential in this premium area with strong growth trends is extremely rare, particularly given the holding income, premium waterfront location and exceptional site area.

We Know Your Area

R&H Suburb Profile: Newport

R&H Suburb Summary Houses
Number of sales 154
Average Price $1,012,303
Median Price $1,000,000
Median Rental Price $550 p.w.
Change in Rental Rate (5yr) 22 %
R&H Suburb Summary Units
Number of sales 27
Average Price $632,776
Median Price $627,500
Median Rental Price $490 p.w.
Change in Rental Rate (5yr) 23 %
Newport, VIC - Median Trend