Ascot Vale ground floor retail investment sold for $935,000

A ground floor retail investment in Ascot Vale, Victoria has been sold for $935,000 to a local investor. 

The 131 square metre property at 202 Union Road, Ascot Vale has been leased to Flemington Financial Services Ltd T/A Bendigo Bank.

It returns $45,395 per annum plus GST on a four plus four year lease term, equating to a yield of 4.86% and building rate of $7,137 per square metre.

The property features an open plan reception/office layout, two partitioned offices, ducted heating and cooling, staff amenities and kitchenette.

It was sold by Craig McKellar of CVA.

It has 6 metre frontage to Union Road and rear access via The Parade.

Union Road is located under 5 kilometres from Melbourne CBD and is supported by an array of retail shops, cafes, restaurants and offices and is serviced by tram.