Carnegie Retail Investment Sold for $2.65 Million
A multi-tenanted retail investment located at Carnegie in one of Melbourne’s strongest retail strips has been sold by Ray White Commercial Oakleigh for $2.65 million.
The property with a building area of approximately 240 sqm at 137-141 Koornang Road, Carnegie, was sold post-auction to a local investor by George Kelepouris of Ray White Commercial Oakleigh in conjunction with Hocking and Stewart.
George Kelepouris said the property with four tenancies was sold on behalf of a local owner for a yield of approximately 3.8 per cent.
“We had four bidders at the onsite auction and the property was sold to the under bidder a few minutes after the auction,” he said.
“The purchaser is a private investor who liked the multi-tenanted aspect of the property, which is securely leased and returning combined income of more than $100,000 per annum.
“This property presented the astute buyer with a rare opportunity to acquire such a prominent retail investment in the heart of thriving Koornang Rd, Carnegie.
“Koornang Rd has also become a hospitality hotspot which is busy both day and night.”
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.
In the heart of Parramatta’s thriving business district, an exceptional freehold building is being offered for sale via expressions of interest by RWC Western Sydney’s Joseph Assaf, Victor Sheu and Andrew Sacco.