This article is from the Australian Property Journal archive
A COMMERCIAL 1-zoned Hawthorn East site has sold for $1.85 million after attracting interest from more than 75 registered parties.
The 373 sqm site at 18 Victoria Road, backing onto Auburn train station in Melbourne’s inner-east, sold at a land rate of $4,960 per sqm and was offered with residential and commercial development upside.
The sale price reflected a 3.25% yield on the short-term holding income of $60,255 per annum from car servicers Dallmore Automotive.
Savills agents Julian Heatherich, Mark Stafford and Benson Zhou sold the property.
Australian Property Journal
