This article is from the Australian Property Journal archive
A CHINESE investor has purchased a Sorrento retail property with redevelopment potential, at auction for $4.18 million.
CBRE agents Mark Wizel, Rorey James and Bianca Butterworth handled the campaign for the site at 141-147 Ocean Beach Rd, on the Mornington Peninsula.
The 992sqm retail property was marketed as having development potential and sold on a sharp 2.3%, with a return of $104,000 per annum on a lease expiring in June 2017.
Australian Property Journal
