Single-fronted Brighton shop fetches suburb record

Single-fronted Brighton shop fetches suburb record
Katherine JimenezDecember 7, 2020

A single-fronted shop in Melbourne's Brighton has set a record price for the suburb, fetching $1.750 million at auction. Four parties competed strongly for the 357 Bay Street shop but eventually a local Brighton family won out.

The sale reflected a tight yield of 3.7%.

Fitzroys senior associate Mark Talbot handled the auction campaign, which saw the property offered for the first time in 60 years.

The property comprises a double-storey retail building of about 150 square metres, on a land area of about 174 square metres. It features retail on the ground floor and a two-bedroom refurbished apartment on the first floor.

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