This article is from the Australian Property Journal archive
HAVING been offered for the first in more than 60 years, a two-storey corner retail property with development potential in Melbourne’s Niddrie has been snapped up before auction for $2 million.
Knight Frank’s Paul Pellegrino and Paul Lillis sold 374 Keilor Road, which has a 241.5 sqm building on a 194 sqm site with Commercial 1 zoning.
It is leased to three tenants with leases ranging from three to 10 years, currently returning $83,989.12 per annum, with demolition clauses written into the agreements.
Tenants include Blackgrape Accounting, Shiloh Hairdressing and Telstra. The property also offered right of way access and rear car parking.
Australian Property Journal
