ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Blackburn South Retail Property Sells At Auction For 45 Per Cent Over Reserve

151016-106-112-Canterbury-road-blackburns-south_620x380

A retail property in Blackburn South has sold under the hammer for $2.095 million for a 2.8 per cent yield.

More than 120 people attended the auction for the property at 106-112 Canterbury Road, Blackburn South.

Five offshore buyers and two local buyers bid for the property, pushing the price 45 per cent ($905,000) above the reserve.

The property comprises over four freestanding retail properties on a corner site of 743sqm of Commercial 1 zoned land.

The property is fully leased to three secure retail tenants including a newsagency and the Charlotte's Corner cafe and currently provides an annual income of $91,492 per annum.

CBRE Melbourne's Rorey James, Jamus Campbell and Lewis Tong sold the property.

  

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://https://theurbandeveloper.com/articles/106-112-canterbury-road-blackburn-south