This article is from the Australian Property Journal archive
A SINGLE-level retail shop and office building at Malvern East in Melbourne's south-east has sold at auction for $1.11 million.
Gross Waddell’s Daniel Greenlees and Jonathon McCormack sold the property at 268 Waverley Rd, Malvern East to a local investor.
Greenlees said the campaign attracted strong interest resulting in excess of 80 enquiries.
“The campaign generated strong interest from local investors and developers and that demand in this precinct was incredibly strong,” he added.
According Greenlees, approximately 40 people witnessed five bidders compete for the property before auctioneer Raoul Salter knocked the property down for $1.110 million, well above expectations.
The property was sold with vacant possession, although it is currently used as a medical premises.
Property Review
