Commercial and residential property news
A PRIVATE investor has paid close to $10 million for a prominent Williamstown retail complex, at the corner of busy Ferguson Street and Douglas Parade.
Fitzroys selling agent Geoff Emmett confirmed the prominent site sold before a scheduled auction on Thursday.
Based on the complex’s annual rental income of $568,796, the asset sold on a yield of about 5.7 per cent.
Read moreAUSTRALAND will build its first Greenfield retail project, in the outer Melbourne north-western suburb of Taylors Hill.
The developer, which is best known for its residential, industrial and office projects, has sold an unbuilt shopping centre- part of its Taylors Hill housing estate – for $23 million, to a group of Melbourne private investors.
The 5,300 square metre Watervale Shopping Centre sold on an estimated yield of about 8 per cent, according to the AFR, which reported the deal.
Read moreIT’s almost as old as the furniture it sells, but soon – Armadale retail institution Grace Antiques will close its
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