This article is from the Australian Property Journal archive
A PROMINENT corner site in Melbourne’s Caulfield South, leased to funeral home Allison Monkhouse, has sold under the hammer for $3.93 million, on a sharp 3.05% yield.
Daniel Philip and John Nockles of CVA sold the 922-926 Glen Huntly Rd property, which they said attracted more than 60 people at auction and multiple bidders on the day, demonstrating high demand for main road properties from potential developers, investors and owner occupiers.
It comprises a two-level commercial building of 522 sqm, with ground floor reception, two large open-plan areas, partitioned spaces and a first floor office space.
The sale price reflected a building rate of $7,527.74 per sqm.
Australian Property Journal
