A unique 2 acre site overlooking Ringwood Lake sold this week by Expressions of Interest. The price, which well exceeded the Vendor’s expectations, is to remain undisclosed.
An elaborate marketing campaign by GormanKelly in conjunction with Jellis Craig Ringwood, produced an excellent response with over 100 enquiries and an overwhelming number of formal offers received.
We’re pleased to advise that Lot 2, Ground Floor, 170 William Street, Melbourne was sold to a local investor, prior to auction for an undisclosed amount.
The strata retail premises of 142sqm is leased to a longstanding restaurant operator for $143,318* net per annum plus GST and outgoings and benefits from its location within the tightly held legal precinct and directly beneath Quest Serviced Apartments.
Today’s auction saw competitive bidding between two local business owners, a restaurant operator and a medical/health practitioner. It was the medical/health practitioner who won out in the end securing this immaculately presented and well maintained two level commercial building.
The property attracted strong interest from owner occupiers keen to secure this rare opportunity offering a quality ground floor office/retail area ready for immediate occupation plus the benefit of income from the first floor tenancy until March 2021. On a fully leased basis the sale price reflects a projected yield of circa 4%.
GormanKelly specialises in helping investors make the most of their Melbourne commercial property investments. We do this by providing a level of service, local knowledge and expertise that are unparalleled and by building and nurturing worthwhile relationships with our clients and local community.
© 2017 GormanKelly. All Rights Reserved. Privacy | Sitemap
Website By Fertile Media