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.”