Prominent Williamstown Retail Complex Sells For $10 Million

Williamstown propertyA 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 more

Australand Sells Undeveloped Taylors Hill Shopping Centre For $23 Million

AUSTRALAND 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 more