This article is from the Australian Property Journal archive
A RETAIL strata investment on the ground floor of the Republic 1 development in Sydney’s Darlinghurst has sold under the hammer for $580,000, at a floor rate of $13,809 per sqm.
The 42 sqm Shop 2 at 238 Palmer Street sold at a 6.99% yield, with a 3+3+3-year lease to popular hair salon TwoSixSix.
Republic 1 is a residential terrace conversion project, with the salon operating from the space for more than five and a half years.
CBRE’s Gemma Isgro and Michael O’Neill handled the campaign, with Auctionworks’ David Scholes overseeing the auction.
Australian Property Journal