This article is from the Australian Property Journal archive
A LOCAL owner occupier has picked up a shop and dwelling in Melbourne’s popular inner eastern suburb of Camberwell has sold for $960,000, at a 4.65% yield.
The 627 Camberwell Road property encompasses 157 sqm and has a 135 sqm building.
It was sold shortly after auction following a campaign handled by Ray White Commercial’s Brett Diston on behalf of a private investor.
“We had strong interest in this asset which comprises a freehold ground floor office and a five-bedroom/two-bathroom residence on the upper level,” he added.
Diston said the lower floor is currently leased to an accountancy firm and the property was returning net rental of $44,640 per annum, and can return $51,920 per annum net when fully let.
He said the property has exposure to around 15,500 approximately cars passing daily.
Australian Property Journal
