This article is from the Australian Property Journal archive
A RETAIL and office investment at Toorak in Melbourne’s inner south-east has sold to a local investor for $760,000.
The approximately 110 sqm ground floor tenancy at 7/521 Toorak Rd Toorak, was sold to a local investor by Ray White Commercial’s Paul Rizzo on behalf of a private owner for a yield of 5.6%.
Rizzo said the property is leased to a quality tenant and is returning net rental income of approximately $43,264 per annum.
“This was a fantastic opportunity for an astute investor,” Rizzo said. “This tenancy is located in Toorak Place, a signature development, and is offering excellent returns.”
Australian Property Journal
