This article is from the Australian Property Journal archive
AFTER nearly a year on the market, a South Melbourne office building has sold to an investor $3.55 million, at a passing yield of 2.26%.
Knight Frank’s Andrew Hansen, Gellie Mendes, Jack De Lutis and Danny Clark sold the 559 sqm three-level 3-7 Raglan St building.
The vendor had paid $3 million for the property in September of 2016, and listed the building shortly after Beyo Group sold the four-storey commercial building of 1,915 sqm at 9-17 Raglan St for $14 million to an offshore investor.
That price tag reflected a steep increase on Beyo’s purchase price of $9.125 million two years earlier.
