This article is from the Australian Property Journal archive
A TWO level office building Prahran has sold for $2.92 million in an auction conducted by Gorman Commercial.
The property at 66-68 Greville Street, Prahran was listed as a mortgagee auction and sold by Gorman Commercial’s Stephen Gorman and Marcus Higgins.
Both said the price was an extraordinary strong result exceeding the reserve.
The property had over 100 enquiries throughout the four week campaign, which Higgins said shows that there is still strong demand for properties in tightly-held pockets.
The property has a building area of 573 sqm on a land area of 377 sqm and is zoned mixed use, presenting an ideal residential, office or café conversion.
“This price is equivalent to CBD land values and highlights Greville Streets significant reputation as a highly sought after location.
“This was a rare opportunity for investors, developers, owner occupiers and residential buyers alike to secure a prominent site and take advantage of the mixed use zoning in the heart of Prahran,” he concluded.
Australian Property Journal
