This article is from the Australian Property Journal archive
AN investor has won out from six parties for a boutique warehouse and office/residence West Melbourne site, acquiring the 63-65 Abbotsford Street property for $2.22 million under the hammer.
The 254sqm site has a 330sqm two-level building with two undercover car spaces. Zoned Mixed Use, it was sold with a short-term lease to a longstanding tenant and has development potential.
Teska Carson’s Fergus Evans and Adrian Boutsakis sold the property, which attracted more than 160 enquiries, on behalf of a Melbourne-based investor.
Evans said the price reflected the continuing strength of an increasingly tight investment market.
“This was one of the best city fringe offerings to hit the market recently providing prospective purchasers with a great opportunity to secure an excellent building with loads of options, including development potential, close to everything,” he said. “Not surprisingly, it drew a wide range of prospective purchasers including local and off-shore investors, developers, and owner-occupiers.”
Australian Property Journal
