Prominent Sunbury retail site sells at auction for $822,000
A prominent Sunbury retail site occupied by Kirkham Homes sold for $822,000 last week. The price represents a yield of 6.5%.
The corner site was among 15 offerings put under the hammer by commercial agents Burgess Rawson at Crown Casino.
The builder has had offices at 5/92 Evans Street since 2002. Its lease extends until 2021.
The 120 square metre shop, with a 24 metre dual frontage, adjoins a Harris Scarfe outlet and is handy to Big W, Woolworths, Foodworks and Coles. The rent is $53,396 with annual CPI reviews.
Auctioneer David Scholes said the area had a fast-growing trade catchment of 60,000 people.
staylor@propertyobserver.com.au