Almost $30 Million in Retail Assets Change Hands at Portfolio Auction

Five Victorian properties, including small retail assets in Hawthorn, Brighton and Keysborough, sold for a total of $3.2 million, on yields of between 6.25 per cent and 7.73 per cent. The most expensive asset sold was a Woolworths in Nambucca Heads, NSW which sold for $9.3 million on a yield of 6.1 per cent.

Elsewhere in Melbourne this week, Fitzroys sold a retail building with development potential at 218 – 224 High Street Ashburton for $3.22 million, against a reserve of $2.6 million. Fitzroys agent Geoff Emmett said the property sold with town planning approval for a three-level building which would include two shops and five apartments.

In Canterbury’s Maling Road retail strip, GormanKelly sold a vacant shop for $1.55 million.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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