This article is from the Australian Property Journal archive
A FREESTANDING retail and office building at East Keilor in Melbourne’s west has sold at auction for $1.14 million.
Sutherland Farrelly the property located at 19-21 Centreway East Keilor, which was offered for the first time in 40 years.
The building incorporates two ground floor retail tenancies and nine first floor office suites, with five tenancies at a combined passing rental of $88,872 per annum (gross) plus GST. Three of the first floor office suites are currently vacant.
Contained within one Certificate of Title, the retail/office building of approximately 750 sqm is divided into two ground floor retail tenancies, each of 130 sqm, and nine first floor office Suites ranging in size between 25.5 and 40.5 sqm. Three car spaces are provided on site.
The property boasts a site area of 383 sqm (approx.) with a 12.2 metre frontage to Centreway and benefits from an additional frontage to a rear right of way.
Selling agent Paul Farrelly said the sale price reflects the property’s superb position in an established retail precinct with the opportunity to let up, refurbish and or subdivide into individual Titles at a later stage.
Australian Property Journal
