This article is from the Australian Property Journal archive
AN office building at South Melbourne has sold under the hammer for $2.2 million.
CRS Property conducted the auction and sale of 50 Boundary St South Melbourne.
It was sold by CRS Property’s Ian Robertson and Lou Montalti in conjunction with Teska Carson.
CRS’ agents said despite the difficult weather conditions, over 20 keen investors attended which included owner occupiers, passive investors and multi-unit developers.
“Bidding started at $1.8mil and after a number of steady bids, the property was sold for $2.2mil.
“This was a terrific result for the area and adds further weight to our position. Properties under $5mil are very attractive in the current market,” Robertson and Montalti said.
The property comprises a building area of 355 sqm set on a 246 sqm site.
Australian Property Journal
