Swanston Street Arcade to Sell

Retail investors are spoilt for choice at the moment, with another portfolio of shops about to be put to the market, this time in Swanston Street.

The five shops, part of a Federation building on the south-west corner of Little Lonsdale Street, are fully leased and return $357,872 per annum. It is expected to sell for around $8 million.

Knight Frank director and selling agent Clinton Baxter says it is the first time a freehold property has been available on the western-side of Swanston Street for over five years.

The building is the latest in a string of CBD and city fringe retail properties to be put to the market recently.

In August, CB Richard Ellis was appointed to sell a portfolio of nine retail shops, worth an estimated $18 million, at the ground level of the Hero apartment complex on the corner of Little Collins Street and Russell Street. Last week, a portfolio of 20 retail shops, on the ground level of the Freshwater Place building in Southbank also came to the market. Those properties are expected to sell for around $50 million.

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