Strong demand continues for stand alone commercial buildings in inner Melbourne. This is a sale campaign without newspaper advertising but still attracted over 120 enquiries and more than 30 inspections.
Owner-occupiers were well represented during the auction resulting in frenzied bidding between a number of buyers which drove the auction activity to more than 50 bids before selling.
Directly marketing the property to our database contacts delivered a well attended auction with an outcome that exceeded the vendor’s expectations. The result is a testament for freehold inner city commercial properties. What's notable with this result and previous sales campaign that we've handled in this area indicate that the rates for Commercial 2 zoned land in Collingwood are closing in on Commercial 1 land values.
If you are thinking of selling your commercial property, we'll help you with what you need early on in the process.
About this commercial real estate asset:
Located less than 1km from Smith Street which comprises Gelato Messina, Woolworths, Chemist Warehouse, Grace Darling, Post Office, Flight Centre, Meatsmith, Alimentari, all the major banks and various cafes and restaurants.
We believe the most outstanding aspects of this property include:
-Clear span warehouse with roller shutter door
-Over 200 sqm of land area Zoned Commercial 2
-Over 200 sqm building area with off-street car spaces
-Opportunity to owner occupy
-Easy access to the major south-eastern thoroughfares including the Eastern Freeway (1.5km), Victoria Parade and Hoddle Street
Written by Aldo Galante
For over 30 years, Aldo has been at the forefront of Australia’s fast-evolving property industry. He served as President of the prestigious Australian Property Institute (Vic), providing determinations on rent-reviews and valuations