This article is from the Australian Property Journal archive
A RETAIL investment property in Brunswick West, set to open as the new café Four Eatery and Espresso Bar has sold to a local private investor for $490,000.
Fitzroys agents Jordan Ceppi and Ervin Niyaz negotiated the sale of the 80sqm space at 444-446 Moreland Road, located on the ground floor of Altus Development’s new four-level, 52-apartment complex The Moreland, designed by Peter Brown Architects.
The sale price reflected a 6.1% yield, with the new café signed up on a 5+5+5-year lease with 4% annual increases.
Ceppi said the property’s secure lease and positioning within the booming suburb of Brunswick West proved to be attractive elements for investors.
Australian Property Journal
