Warehouse on Melbourne CBD fringe fetches $791,000

A modern, single-level, warehouse at Richmond on Melbourne’s CBD fringe sold recently at auction for $791,000 through Teska Carson.

The 30 Baker Street property is within a short distance of Victoria Street retail and entertainment strips, trams and trains.

The property was offered with with vacant possession and includes a 130 square metre warehouse building currently used as a fully-fitted automotive workshop. 

The site is zoned Mixed Use.

According to marketing agents, Teska Carson’s Anthony Choi and Fergus Evans, the property was one of the "best city fringe offerings to hit the market recently".

Choi said the area had benefitted from a number of high profile residential and commercial developments, driven by population growth and the attraction of Richmond’s well documented retail and entertainment offerings, as well as its proximity to the CBD.

"Richmond has consistently been one of the city’s most desirable inner-city locations and that popularity has driven a strong commercial and residential development market," Evans said.