This article is from the Australian Property Journal archive
A CORNER retail freehold property in the Seaview Shopping Centre in Melbourne’s bayside suburb of Beaumaris has been sold at auction for $1 million by agents Malcolms.
Located on the corner with Cromer Road at 333 Balcombe Road, the property was offered with a sitting tenant, a gourmet food retailer Seaview Meats, on a monthly basis but with the potential to obtain vacant possession.
The purchaser is a local private investor.
Malcolms chief executive Frank Hellier said the annual rental potential of the property is approximately $50,000 from the tenancy of the two spaces, plus the signage rights on the eastern wall of the single level brick building.
“This freehold property has been home to a successful butchering business for about four decades so it has a strong local identity,” he concluded.
Australian Property Journal
