A PRIZED INVESTMENT WITH BUILT-IN VISION

Sale Details

Sold on 15 Apr 2026 for $642,500

Description

POINT OF INTEREST:

Coburg has always had a clear vision for neighbourhood retail — and at 55 Waterfield Street, that clarity extends to the investment fundamentals. Sitting amongst the bakeries, barbers, and grocers that service the neighbourhood, this 89 sqm* retail freehold is securely leased to nationally recognised optical retailer OPSM, returning $32,000* p.a. + GST. Positioned within one of Coburg’s most tightly held commercial pockets, the longstanding tenant has recently renewed a fresh five-year lease from the 1st October 2025, reaffirming the strength of both the location and the business that’s been serving the community for years. Inside, the building delivers a clean and functional 89 sqm* footprint with heating and cooling already in place. Outside, the surrounding strip continues to evolve alongside Coburg’s growing residential catchment, meaning you’re a short walk from Coburg Railway Station, Sydney Road, and Coles, while also placed minutes from the Pentridge Shopping Centre and cinemas.

- Leased to nationally-recognised tenant OPSM.
- $32,000 per annum + GST and outgoings.
- Renewed 5-year lease from 1st October 2025.
- Tenant has occupied the property for 20+ years.
- 89 sqm* total building area with rear access.
- Sitting amongst Coburg’s bustling retail precinct.
- 150 m* to Coburg Railway Station.
- 130 m* to Sydney Road.
- Metres from Bell Street and the bus interchange.

POINT OF VIEW:

Between the national tenant, renewed lease, and tightly held precinct, it doesn’t take an eye test to spot the opportunity here.

*Approx.
Pricing excludes GST