A private investor has acquired a retail and residential property in Hampton for more than $2 million.
The property at 390-392 Hampton Street consists of five separate titles with a total land area of 302sqm and frontage to Hampton Street.
According to The Australian, James Davies at DBRE brokered the sale.
"The vendor accepted the final bid in the high $2 million range from a local private investor whose intention is to look at redeveloping the upper floors in the future," he told the The Australian.
The property includes two retail tenancies, with one occupied by Bridget McDonnell Gallery and the other by a jeweller. There are two two-bedroom apartments and four undercover car parks. The property is zoned Commercial 1 (C12) under the Bayside Planning Scheme and is also covered by a Design and Development Overlay.