Office space in Victoria's Mornington fetches a cool $445,000

Office space in Victoria's Mornington fetches a cool $445,000
Prateek ChatterjeeFebruary 16, 2016

A Main Street office location in the seaside town of Mornington near Melbourne has sold for $445,000.

The two offices plus reception at 3&4, 216 Main Street occupy about 80 square metre. Additionally, there’s a kitchen and toilet.

The property is on a two-year lease starting in November 2014 with an extension of two more years.

The property fetches a rent of $19,200 per annum, implying a yield of about 4 percent.

The sale was through Michelle Adams of Jacobs & Lowe.

The property last traded in 2011 when it sold for $203,584.

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