This article is from the Australian Property Journal archive
A Camberwell retail and dwelling building home to Brow & Lash co has sold for $1.837 million, at a 4.0% yield.
Zoned Commercial 1, the 195 sqm site at 788 Burke Road has a two-level building of 247 sqm, leased to the lash design and treatment studio on the ground floor until February 2022, and a three-bedroom apartment with a rooftop terrace above on a new two-year deal, for a combined return of $73,859.96 per annum net.
Aldo Galante and Mario Nobrega of Gorman Kelly negotiated the sale at a building rate of $7,437 per sqm and land rate of $9,421 per sqm.
“As expected, securely leased properties in well located areas deliver great outcomes,” Galante said.
“This well received campaign which attracted more than 80 enquiries demonstrated that 2018 is off to a great start and sellers will most likely see this trend continue through the year.”
Australian Property Journal
