This article is from the Australian Property Journal archive
A HAWTHORN East café investment has sold under the hammer for $1.561 million, on a sharp 3.4% yield.
Chris Alcock and Mario Nobrega of GormanKelly sold the property.
Three bidders fought out the auction for fully renovated Victorian terrace property at 500 Tooronga Road, which is occupied by Shanklin Café on a three-year lease with three three-year options returning $54,000 net per annum, at around $360 per sqm.
The 160sqm site is zoned Commercial 1 and comprises a single-level building of 149sqm, with an on-site garage with roller door via a rear laneway.
Australian Property Journal
