Retail space rented to bakery in Melbourne's Hawthorn sold
A retail property in Melbourne’s inner-eastern suburb of Hawthorn has changed hands for an undisclosed sum.
The property at 7/672 Glenferrie Road was advertised for auction on August 30.
The 80 sqm three-level property comprises a ground floor retail component, a mezzanine area with additional seating, and a basement kitchen preparation area.
It is located within the strongly performing Don Arcade, next to Glenferrie railway station.
The Arcade is also close to banks, major retailers such as Woolworths and within a short walk of Swinburne University Student HQ.
The selling agents were Teska Carson’s Anthony Choi and Michael Taylor.
The property was to be sold subject to a five-year lease to Cupcake Central with a five-year option at a current rental of $91,158 per annum with fixed 4.5 per cent increases.
"The Don Arcade is also part of the well-known and strongly performing Glenferrie Road retail precinct, which, along with Glenferrie station and Swinburne University, underscores its success as a micro retail destination,’’ Choi said.
