A two-storey retail space leased to Melbourne Pool & Spa at 91 Burwood Road sold through Gorman Commercial’s Tom Maule and Jonathon McCormack for $1,575,000 on a 4 per cent yield. “The exceptional position within the shopping strip and long-term lease proved popular with investors,” Mr Maule said.
A vacant property at 73 Barrabool Street sold for $3.35 million at a land rate of nearly $16,000 per sq m, said Fitzroys’ Lewis Waddell, who sold the property with Colliers’ Ben Young and Andrew Lewis.
A corner shop at 567 High Street fetched $2,419,500 at an online auction negotiated by Gorman Commercial’s Jonathon McCormack and Andrew Prowse, along with Crabtrees Real Estate’s Chris McKenzie and Saul Akoka. The shop got more than 100 enquiries and multiple bidders, selling on a 4 per cent yield.
Fitzroys’ Lewis Waddell, along with Colliers’ Andrew Lewis and Lauchlan Waddell, negotiated the sale of a vacant 285 sq m building at 210 Albert Street for $710,000.
A neighbour swooped on a warehouse at 31 Jarrah Drive, buying it for $1.62 million under the hammer in a campaign organised by Fitzroys’ Brent Glassford, Marco Sandrin and Chris Kombi. The sale was the first time in 33 years the 430 sq m property had changed hands.
A modern office/warehouse at 6/2 Fiveways Boulevarde with a medical day hospital licence and fully leased for 10 years has sold through Prowse Burns Commercial’s Philip Prowse for $3.45 million.
A retail space at 105A High Street has sold off market to a local investor with vacant possession for $1.3 million. Knight Franks Matthew Romanin and Nick Bisset brokered the deal.
A warehouse just metres from Lygon Street will become home to music institution Found Sound and an organic wine store. Found Sound leased 106-110 Albert Street at $164,000 per annum while Organic Wine leased No.104 at $71,000 per annum. Both deals, negotiated by Fitzroys Ervin Niyaz and Stephen Land, were for 5+5-year terms.
Gym operator Valhalla Athletic will move into new digs at 123 Bakers Road after signing a 5-year lease. The 820 sq m building was leased at around $100 per sq m, NSL Property Group’s Guy Naselli said.
Australian Bus & Truck will move into 31 Colbert Road after signing a lease negotiated by Colliers’ Corey Vraca and Mitch Purcell. The newly completed industrial property was leased for $155,000 a year net ($97.67 per sq m).
Submissions to firstname.lastname@example.org