This securely leased retail property was snapped up within one week of announcing the forthcoming auction.
The undisclosed sale price reflected an effective sale yield of approximately 3%.
Land Tax grouping resulted in holding the property not being economically viable.
The Tenant recently opened a new bar trading as ‘The Black Sheep’ selling craft beer and gin which has rapidly gained popularity with the locals.
The buyer is a local investor who appreciated the value of a main road property with rear access and upside with medium-term development potential.
Whilst Christmas is fast approaching, there is still time to sell. Our extensive database of prospective purchasers enables us to offer a property for sale with minimal, often nil, marketing costs incurred by the vendor.
Speak to us today to see how GormanKelly can achieve a result for you.
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