Retail property in Hawksburn Village, South Yarra sold

Retail property in Hawksburn Village, South Yarra sold
Retail property in Hawksburn Village, South Yarra sold

A retail investment in South Yarra with a long-term tenant has sold for $843,000 to a local first-time commercial investor.

The 64 square metre building at 5/159A Williams Road was sold on a yield of 4.7 percent.

Ray White Commercial Oakleigh’s George Kelepouris sold the property on behalf of a local owner.

“The tenant initially took out a three-year lease in November, 2014, and has a further 2 x 3 year options,” he said.

“This property is an outstanding Hawksburn Village location and is returning net rental of almost $40,000 per annum.

“It was ideal for a self-managed super fund or as a passive investment.”

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South Yarra Commercial Property

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