This article is from the Australian Property Journal archive
A TWO-storey freehold office building in Hawthorn East has sold under the hammer for $1.375 million, on a sharp 3.45% yield.
The 345 Riversdale Road property sold with a monthly lease.
GormanKelly’s Mario Nobrega and Chris Alcock sold the property.
They said the property was bought with a view to develop or extend in the future given the circa-30% site coverage.
“The land value of $5,300 per sqm represents a consistent rate seen in similar small development sites in the area,” the agents said.
Australian Property Journal
