This article is from the Australian Property Journal archive
A PRIVATE company has picked up neighbouring retail buildings on Burke Rd in Melbourne’s Kew for $3.35 million with vacant possession.
The properties at 1159 and 1161-1163 Burke Rd are located in a short commercial strip north and were sold by Matt Hoath and Brett Simpson of Gray Johnson on behalf of vendors that had held the properties long term.
Manly Plumbing had for many years occupied 1159 Burke Rd, which was offered with vacant possession. On 245 sqm of land, the building ha open plan retail, sales or showroom space, with a network of offices on the first level.
Next door, 1161-1163 Burke Road Kew has a land area of 478 sqm with a 200 sqm two-storey building, street frontage of 9.8 metres and rear laneway access.
Both sites have commercial 1 zoning.
The agents said the location is amongst a diverse range of business occupiers, while immediately at hand are the premium residential streets, parks and private schools of Hawthorn, Kew and Mont Albert with the tram service right outside.
They said properties are rarely traded in this part of Burke Rd, north of the Camberwell Junction precinct.
“This section of Burke Road has been home to a number of long established businesses over many years including antique and furniture traders, several real state offices, professional services and building product distributors, and the offer of these two freeholds for private sale was a plum opportunity to gain a foothold here.”
