This article is from the Australian Property Journal archive
A CHINESE buyer has pounced on a Greensborough retail opportunity, paying $2.95 million for the asset on a 4.4% yield.
The 682sqm 86-90 Main Street property in Melbourne’s north-east comprises three fully-leased shops covering a combined 350sqm, and 10 car spaces.
The property returns a current net rental of $130,240 per annum and was marketed with future development upside and an Activity Centre 1 zoning, located opposite the Greensborough Plaza Shopping Centre.
It was sold by Savills agents Nick Peden and Jesse Radisich, with the sale price reflecting a building ate of $8,428 per sqm and land rate of $4,325 per sqm.
Australian Property Journal
