Office space in Victoria's Mornington fetches a cool $445,000
Prateek ChatterjeeDecember 7, 2020
A Main Street office location in the seaside town of Mornington near Melbourne has sold for $445,000.
The two offices plus reception at 3&4, 216 Main Street occupy about 80 square metre. Additionally, there’s a kitchen and toilet.
The property is on a two-year lease starting in November 2014 with an extension of two more years.
The property fetches a rent of $19,200 per annum, implying a yield of about 4 percent.
The sale was through Michelle Adams of Jacobs & Lowe.
The property last traded in 2011 when it sold for $203,584.