This article is from the Australian Property Journal archive
A RETAIL freehold property at Fitzroy North in Melbourne’s inner north-east has sold to an owner-occupier for $1.202 million following a hotly contested auction.
Gross Waddell’s Alex Ham and Jonathon McCormack sold 367 St Georges Rd Fitzroy North.
According to the agents, the auction attracted three bidders and registered 35 bids before it was snapped up by an owner-occupier.
The 118 sqm site is improved by a building area of 198 sqm. The property was offered with vacant possession with future development potential STCA with potential CBD views.
“367 St Georges Rd, Fitzroy North attracted a strong hype throughout the campaign from developers, investors and owner occupiers which led to a multitude of potential buyers at the auction,” Ham said.
“I knew the vendor would achieve an outstanding result with this property mainly due to its location and close proximity to the CBD. A local owner occupier purchased the property proving that the low interest rate environment is still a contributing factor for most buyers.” Ham concluded.
Australian Property Journal
