Property picked in Prahran
|
Lachlan Hibbert-Wells |
|
| An office and showroom in Prahran, Victoria, has been sold via an expressions of interest campaign. | |
The property, 52 Commercial Road, Prahran, was sold for $1.21 million.
The 340 sqm sits on a land area of 462 sqm and includes 4 carspaces at the rear.
Located between Punt Road and Chapel Street, nearly opposite the new Officeworks, the property also has Residential 1 zoning.
According to the agents the property had excellent inquiry resulting in the EOI closing one week early, which the agents also said confirmed the interest investors have for well located properties under $2 million.
The property is leased to Microvoice Pty Ltd on a three year lease which commenced on the 1 July this year and includes a one further three year option.
Microvoice currently pay a net rental of $75,542 p.a. net, reflecting a healthy 6.2% yield.
The property was sold by agents of Philip Prowse Real Estate.
Related News
- Australian business owners ignore Federal Government CPRS
- Auction clearance rate reaches yearly high
- Melbourne to take office crown from Sydney
- Clearance rates slowly climbing
- Auction clearances begin to climb
- Bridge Road continues to boom
- JP Morgan to relocate
- Property investment – beginner guide to commercial property
- Understanding commercial property – office, retail, industrial
- Commercial property market to improve
Latest News
Note: the views and statements expressed are those of the author, and may not necessarily represent the views of REA Group or this site. Information on our websites and in any REA Group publication should not be regarded as a substitute for professional legal, financial or real estate advice.