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26YEARS
$
OF PROPERTY INSIGHTS
10,000
+
LOCAL INVESTORS REACHED

Iconic Penang Coffee House Sells Before Auction

By | 16/08/2021

Property leased by GK: 549 Burwood Road, Hawthorn Sold
Property leased by GK: 549 Burwood Road, Hawthorn Sold

MORE PROPERTIES WANTED

Freehold & Business Sold
PRICE UNDISCLOSED

The GormanKelly team has sold another prime retail property days before our scheduled auction.

With the uncertainty of the Auction outlook due to Covid lockdowns, the Vendors decided to accept a very attractive offer received beforehand.
After more than 30 years of successful trade, it was decided to sell the property and the campaign produced a great result for the owners.

The property attracted a large amount of interest from investors and developers with its underdeveloped corner location however it was the occupiers looking to acquire the freehold and take advantage of decades of goodwill in the business who proved to be the front runners.

Penang Coffee House, one of the pioneering Malaysian Restaurants in Melbourne, will continue to provide its loyal following with Malaysian delights until Christmas and we look forward to seeing the new chapter unveiled in the new year.

This and other recent campaigns in the area have provided GormanKelly with a huge amount of unsatisfied purchaser interest and requirements from investors, occupiers and developers.

GormanKelly team has sold 549 Burwood Road Hawthorn

Feel free to contact us for further details about this sale, or if you would like assistance with selling your commercial property.

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Nick Breheny

Written by Nick Breheny 

"Nick commenced his career in the Eastern Suburbs and brings over 30 years’ experience in commercial property sales and leasing with an emphasis on development sites and investment property."

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