Richmond shop on Swan Street snapped up by owner-occupier for $607,500

Richmond shop on Swan Street snapped up by owner-occupier for $607,500
Richmond shop on Swan Street snapped up by owner-occupier for $607,500

Renovated retail premises of a former take-away business in Swan Street in Richmond, Melbourne, have been acquired by an owner occupier who will use them as boutique flooring products showroom.

The 68-square-metre corner store on the north east corner of Mary Street at 255 Swan Street in Richmond sold through Rory White of Gray Johnson for $607,500 plus GST or $8,930 per square metre of building area.

It was listed at $655,000 plus GST.

The building was also listed for lease at $36,500 net per annum – equating to around $540 per square metre per annum.

The purchaser has a number of large showrooms of flooring products throughout the Melbourne metropolitan area.

Recent retail premises on Swan Street include the 204-square-metre premises of Angus antique furniture just a few shops down from the vacant corner café, which sold for $1 million in March last year on a yield of around 3.7% through Tom Maule and Larry Takis of Teska Carson Richmond.

Swan Street runs perpendicular to Punt Road from the Royal Botanical Gardens to Park Grove.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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