This article is from the Australian Property Journal archive
A SUBSTANTIAL retail holding in the heart of Clarendon Street, South Melbourne has been sold at auction by Sutherland Farrelly for $2.85 million.
The campaign was handled by Grant Sutherland and Michael Major of Sutherland Farrelly.
The part two storey building has an area of approximately 588 sqm including ground floor retail, first floor office and a modern rear warehouse, which could either be utilised in its existing configuration or may be redeveloped for a variety of uses including residential (subject to Council approval).
Located at 295 Clarendon St, the property is within a ‘Business 1’ zone and has an overall land area of approximately 416 sqm.
Michael Major said the iconic building attracted strong interest.
“The building’s prominent frontage, attractive facade, substantial improvements and opportunity to occupy part, whole and/or potentially redevelop part of the building to incorporate a residential component made it attractive to multiple parties,” he concluded.
Australian Property Journal
