Retail Strip Sales Strong

At least one private investor has some faith in a Liberal Party politician, buying the Bay Street retail shop in Brighton leased to MP Louise Asher for $1.04 million, on a low 1.8% yield.

Fitzroys selling agent Mark Talbot said interest in the 120 sq m shop was strong, given the Department of Finance and Deregulation, which leases the property for Ms Asher, had not confirmed it would stay on beyond property settlement.

In town, Knight Frank direc-tor Clinton Baxter and Langton McHarg sold $10 million in Swanston Street stores to private investors on Thursday. The most expensive property, at 150 Swan-ston Street, sold for $4.8 million on a yield of 5%.

Two other retail shops, part of Curtin House at 250 Swanston Street, sold for a combined $5.25 million.

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