Cheltenham showroom for lease after $599,000 sale

Cheltenham showroom for lease after $599,000 sale
Jonathan ChancellorDecember 7, 2020

A retail/office building at Cheltenham in Melbourne’s south-east has been sold by Ray White Commercial for $559,000.

The property at 6/1291 Nepean Highway sold to a local investor.

It last sold in 2009 at $442,000.

The 170 square metre building is now available for lease with showroom/retail of 80 square metres.

It is advertised at $29,500 a year, plus get and outgoings.

It was currently returning $28,000 per annum net with the tenant vacating the premises in mid-December 2014.

It was sold by Ray White Commercial Oakleigh agent George Kelepouris.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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