This article is from the Australian Property Journal archive
A RETAIL and residential investment property leased to a café at Seaford in Melbourne’s south-east has sold at auction for $550,000 on a yield of 4.8%.
Ray White Commercial’s Ryan Amler sold the property at 37 Armstrongs Rd Seaford to a local investor.
Amler said the approximately 188 sqm property with the ground level ‘Bear & Cub’ café and a separately leased two-bedroom residence on the first floor offered a combined rental of approximately $26,874 per annum.
“There were five bidders at the onsite auction and some keen bidding for the property achieved a sale price of $550,000,” he added.
Australian Property Journal
