This article is from the Australian Property Journal archive
A Camberwell medical and office property has sold for $2.4 million, on a 3.9% yield.
The 684 Burke Road site in Melbourne’s inner-east was passed in at auction and sold a week later following offers from three groups.
It has a 100sqm ground floor leased a skin clinic on a five-year deal, and a 90sqm office space on level one leased on a separate three-year deal.
Mario Nobrega and Chris Alcock of GormanKelly sold the property.
They said it provided greater flexibility when compared to come neighbouring properties, and that the sale is the fourth on Burke Road in as many weeks with each reflecting a yield below 4%.
Australian Property Journal
