Fresh fruit shop in Melbourne's Yarraville exceeds reserve price at auction

Fresh fruit shop in Melbourne's Yarraville exceeds reserve price at auction
Fresh fruit shop in Melbourne's Yarraville exceeds reserve price at auction

A Yarraville fresh fruit shop, Dominic’s Fresh Fruit Supply at 27 Anderson Street fetched a top bid of $1.511 million, some $311,000 above the recent auction's reserve price. 

The auction attracted 31 bids from five groups. 

The property is fully leased to renowned Yarraville grocer, Dominic’s, which has been trading in the area for more than 30 years. 

The property has a net annual income of $54,000 subject to a four-year lease term. 

The sale through CBRE set a strong land rate of $10,070 per square metre and yield of 3.6%.

Tags: 
Commercial Sale

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