SMSF buys retail property in Melbourne's Swan St for $750,000

SMSF buys retail property in Melbourne's Swan St for $750,000
SMSF buys retail property in Melbourne's Swan St for $750,000

A securely leased corner property in Melbourne's Richmond has been snapped by a self-managed superannuation fund at auction for $750,000.

Selling agent Rory White of Gray Johnson said the retail investment property's indicative return was 4.8%.

The 255 Swan Street property has a building area of 72 sqm with frontages to Swan Street and Mary Street.

The property is secured by a new five-year lease that started on 1 April with an initial annual rental of $36,000 plus GST and outgoings. There is a further five-year option and the lease provides for CPI-based rental growth. 

The tenant, Portobello Home, is a retail and online store selling mainly furniture and homeware.

Tags: 
Melbourne Commercial Auction

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