Prominent Sunbury retail site sells at auction for $822,000

Stephen TaylorDecember 7, 2020

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

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