Mooroolbark retail complex sells for $9.05 million

Mooroolbark retail complex sells for $9.05 million
Mooroolbark retail complex sells for $9.05 million

A 7,530 sqm Mooroolbark site has sold to a Chinese investor for $9.050 million with a weighted average lease expiry of around 5.31 years.

14 Manchester Road, Mooroolbark, features a retail/commercial building of 2,759 sqm currently yielding a net income of around $712,778 p.a.

DTZ agent, Patrick O’Callaghan said there was significant competition for the property, with two offshore parties bidding against each other until the very end.

The building is fully leased, and includes tenants Good Life Health Clubs, G8 Education, licensees for Biggin Scott, Telstra and Pump Café. 

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

Tags: 
China Property Development

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