Bridge Road, Richmond restaurant space sells for $965,000

A retail property in Richmond has been sold for $965,000 at auction.

The 140 square metre property at 432 Bridge Road is currently set up as a restaurant with a first floor three bedroom dwelling.

It is located between Hunter and Fraser streets and has nearly five metres frontage to Bridge Road.

According to marketing agents, Teska Carson’s Luke Bisset and Fergus Evans, the property is of interest to both owner-occupiers and investors.

“This is a sought after retail location which will continue to benefit from population growth and the demand for inner-city apartment living, indeed several new apartment buildings have been completed in close proximity with others under construction providing a rapidly expanding retail catchment,” Evans said.

“Properties such as this have been very popular with small investors and owner-occupiers alike with demand growing as an alternative investment as global economic conditions have negatively impacted share markets.”