Bayswater retail complex sells under the hammer
Staff reporterDecember 7, 2020
A local private investor has snapped up a prominent retail complex in Perth's Bayswater for $5.45 million at auction.
The 497 Guildford Road complex is anchored by Red Rooster and Snap Fitness.
The deal was brokered by CBRE agents Ben Younger and Michael Milne.
The sale price translates to an estimated yield of 5.87%.
The 3,137 square metre site has expansive frontages to Guildford Road and Slade Street and on-site parking.
The site was sold with secure leases to four well-established tenants, which provide an estimated income of about $320,367 per annum.
The auction was well bid with eight parties.