This article is from the Australian Property Journal archive
A MEDICAL practitioner has won out from two local business owners and a restaurant operator for a two-level commercial building in Melbourne’s prized inner suburb of Malvern.
Gorman Kelly’s Aldo Galante and Mario Nobrega marketed 291-293 Wattletree Road, which sold under the hammer for $2.915 million, following a campaign that drew 60 enquiries.
Zoned Commercial 1, the property has a 388 sqm building that was offered with the chance to partly occupy immediately, and fully occupy on expiry of the lease over level one in February 2021. Collins Partners occupies the floor and returns $59,282 per annum.
Estimated potential total rental income is around $120,000 net per annum plus GST and outgoings.
The site encompasses 460 sqm and has a large rear car park, and is located metres from the corner of Tooronga Road.
Australian Property Journal
