Melbourne commercial agent, Allard & Shelton has reported continued “trademark” sales success – despite the recent interest rate rises by the Reserve Bank and despite the prediction of further rate rises.
According to Allard & Shelton, sales director Fred Nucara, keen investors appear undeterred in their quest to secure retail, commercial or industrial investments offering strong returns and future development.
He said a number of recent sales in Melbourne’s inner eastern suburbs including a retail property in South Yarra selling more than $3.9 million point to the increasing demand for investment properties.
Mr. Nucara predicts Melbourne’s investment commercial property market will continue to produce desirable results for both vendors and investors in the final five months of 2006.
By Nelson Yap
