T2's Camberwell shopfront changes hands

T2's Camberwell shopfront changes hands
T2's Camberwell shopfront changes hands

Camberwell's popular T2 premises has sold for just over $6 million.

It was a private sale between local investors, negotiated by Savills Australia.

The 275sqm primary-grade retail investment asset at 596 Burke Road transacted for $6.008 million, reflecting a yield of 5.11 per cent.  

T2 shares the premises with gift and home décor store, Montebello Emporium.

Savills Australia’s Nick Peden, Jesse Radisich and Benson Zhou brokered the deal, achieving a strong land rate of $22,007 per sqm.

Peden said investment opportunities in the metropolitan markets of Camberwell and Hawthorn had been hotly contested this year.

“This is the latest in a string of sales we’ve concluded in the area,” Mr Peden said.

“In 2017 alone, Savills has sold seven prime properties, ranging in value from $5.5million to $15million.”

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Savills Camberwell

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