This article is from the Australian Property Journal archive
A VACANT shop in Moonee Ponds has sold for $1.35 million to an owner occupier who will use the property as a dental clinic.
Fitzroys Terence Yeh and Chris Kombi sold 127 Puckle St on behalf of a local investor after the property was offered to the market for the first time in 31 years.
Set on a 192 sqm site, it is improved by a 150 sqm building. Kombi said the campaign generated enquiry from local and offshore investors and owner occupiers, driven by the hefty pipeline of residential and commercial projects that is reshaping the suburb.
“Owner occupier purchases of vacant property demonstrate a vote of confidence in the strip. In this case the dental clinic was motivated by the growing demand for services and that will be seen across the area in the coming years.
“As well as hospitality operators, we have seen personal services and medical and fitness operators opening throughout Melbourne’s retail strips, bringing an offering to the strips that is difficult for the online world to replicate and which is underpinning their evolution.”
The sale comes hot on the heels of Yeh and Kombi’s sale of the vacant two-level retail building nearby at 85 Puckle St for $2.285 million under the hammer following strong competition between investors and owner occupiers.
Australian Property Journal
