This article is from the Australian Property Journal archive
THE Pineapple Palm café at Albert Park in Melbourne’s city fringe has sold at auction for $1.789 million.
Knight Frank’s Paul Pellegrino and Paul Lillis handled the sale at 90 Beaconsfield Parade. Pellegrino said the sale price was $178,000 above and reflected a yield of 5.3%.
“The 160 sqm café is positioned opposite the beach and offers an exceptional trading history since its inception in 2018. It is leased on a 5+5 year basis at a net annual rental of $95,000,” Pellegrino said.
Australian Property Journal
