This article is from the Australian Property Journal archive
NORTH Melbourne is returning strong results on and off the footy field in 2016, with three shops on one title at 492-496 Victoria St selling at auction for $2.44 million.
Gross Waddell’s Jamie Stuart and Andrew Waddell handled the campaign, on behalf of a vendor who had owned the property since circa 1920.
The sale reflected a rate of $7,746 per sqm.
The 315 sqm site comprises three shops and dwelling, with a 12.6 metre frontage to Victoria St and rear access. It was well known locally for being “The Flower Shop”, owned by the Raftopoulos family.
Stuart said properties like these, which feature huge potential rarely present themselves in this high demand precinct.
The purchaser has the option to occupy, invest or redevelop the property.
Australian Property Journal
