Ascot Vale ground floor retail investment sold for $935,000

Ascot Vale ground floor retail investment sold for $935,000
Staff reporterSeptember 4, 2019

A ground floor retail investment in Ascot Vale, Victoria has been sold for $935,000 to a local investor. 

The 131 square metre property at 202 Union Road, Ascot Vale has been leased to Flemington Financial Services Ltd T/A Bendigo Bank.

It returns $45,395 per annum plus GST on a four plus four year lease term, equating to a yield of 4.86% and building rate of $7,137 per square metre.

The property features an open plan reception/office layout, two partitioned offices, ducted heating and cooling, staff amenities and kitchenette.

It was sold by Craig McKellar of CVA.

It has 6 metre frontage to Union Road and rear access via The Parade.

Union Road is located under 5 kilometres from Melbourne CBD and is supported by an array of retail shops, cafes, restaurants and offices and is serviced by tram.

Editor's Picks

RBA cut interest rates amid inflation decline
Reddam House North Shore opening to lure families to North Sydney
Woolworths to sell another prime Brisbane development site with apartment approval
TOGA's vision for building vibrant new community precincts across Sydney
Latent Defects Insurance 101: How off the plan developers and buyers both benefit from Resilience Insurance LDI