Docklands retail shop sells for $630,000
Katherine JimenezDecember 17, 2020
A small retail shop on the fringe of the Melbourne CBD has sold for $630,000.
Located at 759 Bourke Street, the 57 square metre Docklands shop was sold on a net yield of 5.7%.
It is leased to hair salon Blow Dry Bar, returning $41,600 plus GST.
Fitzroys selling agent Andrew Hewett said astute investors were now considering Docklands again following the huge increase in population from rapid development over the past 12 years.
“There is no doubt now that Docklands has cemented itself as a large business precinct, connected to the CBD and boasting a number of attractions,” he said.
The Bourke Street shop is located between the two NAB office towers in Docklands and opposite the new purpose-built Medibank Private development.