This article is from the Australian Property Journal archive
A DOUBLE fronted freehold building at Melton is Melbourne's west has sold at auction for $1.15 million through Fitzroys.
Fitzroys’ James Gregson and Adam Lester sold the property at 285-287 High St Melton on behalf of the Commonwealth Bank.
The property comprises a land area of 411 sqm and improvements include a two-level 471 sqm building.
Gregson said the property was sold with vacant possession, following a campaign which saw interest from 30 parties. He added that purchaser is a local accountant, who intends to occupy the premises.
On the other side of Melbourne, Fitzroys also sold 573-577 Springvale Rd Mulgrave for $8.05 million.
Directors David Bourke and Peter Weatherby sold the former head office and showroom of Carpet Call.
The site is opposite the Brandon Park shopping centre and encompasses a total land area of 6,805 sqm including a 4,000 sqm showroom warehouse building returning $503,000 per annum and reflected a initial yield in the order of 6.2%.
It was purchased by an owner-occupier who intends to convert the site into a commercial car yard.
Australian Property Journal