Wheelers Hill

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The home of the Fratelle hair salon, has sold for $2.4 million under the hammer.
It transacted at a tight 5.2% yield on behalf of a local family who owned the asset for almost 30 years.
Chris Kombi and Chris James, of Fitzroys real estate, sold the property.
Kombi said the fierce competition between five investors at auction pushed the sale price well beyond reserve, while the building rate of $11,428 per square metre was remarkably high for a strata-titled retail property in the area.
A local investor purchased the property for their self-manager super fund.
The 210 square metre fully self-contained premises is securely leased to Rokk Ebony Properties Pty Ltd on a 10+5+5-year deal with a return of $125,200 per annum.
The triple-fronted property is positioned at the front of Wheelers Hill Shopping Centre, with 38 metres of corner frontage to the car park and Jells Road, plus an additional 9-metre frontage inside the shopping centre.
The hair salon trading as Fratelle has operated within Wheelers Hill Shopping Centre for over 26 years.
Wheelers Hill Shopping Centre comprises 40 retail operators and is anchored by Woolworths Supermarket, with other tenants including Bakers Delight, National Pharmacy, BWS, Bottle-O, Nando’s, Domino’s, Tatts and Australia Post.
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Wheelers Hill hair salon sold at weekend auction

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Teska Carson is marketing a retail investment or owner-occupier opportunity located within the Wheelers Hill Shopping Centre in Melbourne’s eastern suburbs.
The property, Shop 26 (pictured above) will be auctioned August 17 on site.
The 46 sqm holding which comprising an open plan retail/services area and a small consulting room at the rear, was previously tenanted by an optometrist but is currently vacant.
Shop 26 is located internally between Woolworths Supermarket and the southern entrance of the centre which includes other major brands.
According to marketing agents, Teska Carson’s Fergus Evans and Michael Ludski the location was experiencing an emerging gentrification.
They expect strong enquiry and Mr Ludski said Wheelers Hill lies within one of Melbourne’s most rapidly growing regions.
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Wheelers Hill Shopping Centre shop on market

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A 1994-built Wheelers Hill three bedroom home has been sold by the mortgagee for $1.1 million.
It was sold by Dexter Prack and Tamara Mitchell from Harcourts.
<a href="https://www.realestate.com.au/sold/property-house-vic-wheelers+hill-126965194">Set at 11 Nelse Court</a>, the Victorian home on 500 sqm comes with open plan living area, a natural stone kitchen and a front lounge.
Other features include central heating, evaporative cooling and ducted vacuum.
Wheelers Hill Shopping Central, Jells Park and St Justin's Catholic Primary school are within short distance. 
It last sold as a $90,000 building block in 1993.
According to CoreLogic, the suburb's median house price sits on $1.1 million.
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1990s Wheelers Hill home sold by mortgagee

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Wheelers Hill has the highest housing median growth in Victoria, according to Investar’s latest report.
The property data firm says that Wheelers Hill’s housing median price has grown by 49%.
This is followed by Aspendale with 45% and Box Hill South with 43%.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="93">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="84">
Median price
</td>
<td valign="top" width="94">
Median growth
</td>
</tr>
<tr>
<td valign="top" width="93">
Wheelers Hill
</td>
<td valign="top" width="64">
3150
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="84">
$1,299,000
</td>
<td valign="top" width="94">
49%
</td>
</tr>
<tr>
<td valign="top" width="93">
Aspendale
</td>
<td valign="top" width="64">
3195
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="84">
$1,150,000
</td>
<td valign="top" width="94">
45%
</td>
</tr>
<tr>
<td valign="top" width="93">
Box Hill South
</td>
<td valign="top" width="64">
3128
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="84">
$1,300,000
</td>
<td valign="top" width="94">
43%
</td>
</tr>
<tr>
<td valign="top" width="93">
Kyneton
</td>
<td valign="top" width="64">
3444
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="84">
$427,500
</td>
<td valign="top" width="94">
40%
</td>
</tr>
<tr>
<td valign="top" width="93">
Mornington
</td>
<td valign="top" width="64">
3931
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="84">
$1,000,000
</td>
<td valign="top" width="94">
39%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-wheelers+hill-126022678" target="_blank">302 Jells Road</a>, Wheelers Hill (above) has been listed for sale.
It was last sold in 2002 for $423,000.
Another four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-125886734" target="_blank">11 Gareth Court</a>, Glen Waverley (below) has been listed for $1.28 million.
Built in 1973 the property was last sold in 1978 for $61,500.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/01/11%20Gareth%20Court.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-wheelers+hill-125867018" target="_blank">9 Tiki Court</a>, Wheelers Hill (below) was sold for $1,277,500.
It last sold in 2007 for $565,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/18/9%20Tiki%20Court.jpg" alt="">
Another four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-glen+waverley-125855242" target="_blank">20 Cowrie Street</a>, Glen Waverley (below) was sold for $1.2 million.
It last sold in 1993 for $195,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/18/20%20Cowrie%20Street.jpg" alt="">
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