Row of Williamstown banks collects c$13m

The Williamstown properties (marked) last traded in 2016 for $11.34 million.

A row of three Williamstown banks has sold for a speculated c$13 million, which would reflect a 3.5 per cent net passing yield.

Covering 48-50 and 52-56 Douglas Parade, the two holdings are leased to ANZ, Bank of Melbourne and Commonwealth Bank of Australia.

All up, the lettable area is 950 square metres – as is the land area.

There are also seven car parks (story continues below).

JLL’s Tom Noonan, Josh Rutman and Stuart Taylor, with Allard & Shelton’s Michael Shelton and Joseph Walton marketed the Commercial 1 site’s longer term development upside.

The assets previously traded for $11.34m in 2016.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of