This article is from the Australian Property Journal archive
A COMMERCIAL property at 67-69 Canterbury Road Canterbury, 10km east of the Melbourne CBD has been sold at auction to a developer for $1,025,500.
Agents Gorman Commercial principal Stephen Gorman said the sale price is an exceptionally strong result as the building currently occupied by a surveying company has an area of 230 sqm over its two levels while the site area is 440 sqm.
The building an existing two level office building in need of refurbishment and within a confined Business 2 zoned local retail and services strip. The property is tenanted under a lease that extends until August 31 so allowing for the settlement terms was effectively being offered with vacant possession.
“We offered the property for occupancy, refurbishment or redevelopment as the existing building was built about forty years ago and could potentially be upgraded.
“The location is within easy reach of several of Melbourne’s best residential streets and it is virtually opposite the old Inner Circle railway reserve which is now parkland, so it scored particularly well from the aspect of location,” he concluded.
Australian Property Journal
