This article is from the Australian Property Journal archive
A LOCAL strip owner has snapped up a double storey retail building on Balaclava’s Carlisle St before auction for $3 million.
Gross Waddell’s Benjamin Klein and Michael Gross, in conjunction with Fred Nucara and Jeremy Gruzewski of Aston Commercial sold 242 Carlisle St.
The sale price came in at a land rate of $11,321 per sqm.
The 334m sqm building is centrally positioned in Carlisle St and has rear access to a Council carpark and Coles supermarket.
The current lease to a party and giftware retailer runs until August 2020 and returns an annual rent of $167,977.
“Carlisle Street continues to attract lots of interest proving to be a leading retail strip in Melbourne with further growth expected,” Klein said.
