This article is from the Australian Property Journal archive
SIX bidders have competed for a Balwyn retail investment, which sold at auction for $1.91 million, some $210,000 above reserve.
Liam Rafferty and Fred Nucara of Beller Commercial marketed the 304 Whitehorse Road property in Melbourne’s eastern suburbs.
A local investor picked up the 142 sqm Heritage Menswear outlet, on a 212 sqm site, at a 3.2% yield. It sold with a recently exercised four-year term with options, returning $62,500 per annum plus GST.
It is located along the number 48 tram route and close to the intersection of Balwyn Road.
Australian Property Journal
